Company Announcements

Custodian REIT plc : Disposal of business park office property for £2.8m

Source: EQS

Custodian REIT plc (CREI)
Custodian REIT plc : Disposal of business park office property for £2.8m

30-Nov-2022 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


 

 

30 November 2022

 

Custodian REIT plc

 

(“Custodian REIT” or the “Company”)

 

Disposal of business park office property for £2.8m

 

Custodian REIT (LSE: CREI), which seeks to deliver a strong income return by investing in a diversified portfolio of smaller regional properties across the UK, is pleased to announce the disposal of a 16,941 sq ft office property in Leicester for £2.8m, in line with the most recent valuation.

 

Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s external fund manager), said:

 

“This asset was acquired as part of the Company’s IPO portfolio in 2014.  It has been fully let since, delivering an average yield of 9% per annum but has seen no rental or valuation growth over our period of ownership and this trend is expected to continue.  We expect to invest the sale proceeds in the Company’s remaining assets which have greater prospects for income and capital growth, better supporting the Board’s objective of increasing dividends in a sustainable way and enhancing the portfolio’s environmental credentials.”

 

- Ends -

 

For further information, please contact:

 

Custodian Capital Limited

 

Richard Shepherd-Cross / Ed Moore / Ian Mattioli MBE

Tel: +44 (0)116 240 8740

 

www.custodiancapital.com

 

Numis Securities Limited

 

Hugh Jonathan

Tel: +44 (0)20 7260 1000

 

www.numiscorp.com

 

FTI Consulting

 

Richard Sunderland / Ellie Sweeney

Tel: +44 (0)20 3727 1000

 

custodianreit@fticonsulting.com

 

Notes to Editors

 

Custodian REIT is a UK real estate investment trust with a portfolio comprising properties predominantly let to institutional grade tenants throughout the UK, principally characterised by properties with individual values of less than £15m at acquisition.

 

The Company offers investors the opportunity to access a diversified portfolio of UK commercial real estate through a closed-ended fund.  By principally targeting sub £15m lot size, regional properties, the Company intends to provide investors with an attractive level of income and the potential for capital growth, becoming the REIT of choice for private and institutional investors seeking high and stable dividends from well-diversified UK real estate.

 

Custodian Capital Limited is the discretionary investment manager of the Company. 

 

For more information visit www.custodianreit.com and www.custodiancapital.com.

 

 



ISIN: GB00BJFLFT45
Category Code: MSCH
TIDM: CREI
LEI Code: 2138001BOD1J5XK1CX76
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 204943
EQS News ID: 1501089

 
End of Announcement EQS News Service

fncls.ssp?fn=show_t_gif&application_id=1501089&application_name=news&site_id=acquiremedia3