REG-Custodian Property Income REIT plc Custodian Property Income REIT plc: Custodian Property Income REIT sells office unit at 33% premium to valuation

Custodian Property Income ReitAnnouncement

31/10/2024 07:15

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   Custodian Property Income REIT plc (CREI)
   Custodian Property Income REIT plc: Custodian Property Income REIT sells
   office unit at 33% premium to valuation

   31-Oct-2024 / 07:00 GMT/BST

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                                                              31 October 2024

    

                       Custodian Property Income REIT plc

                                        

              (“Custodian Property Income REIT” or the “Company”)

                                        

       Custodian Property Income REIT sells office unit at 33% premium to
                                   valuation

    

   Custodian Property  Income 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 vacant office unit in Solihull for £1.4m, representing a 33% premium  to
   the 30 June 2024 valuation.

    

   Commenting on the disposal,  Richard Shepherd-Cross, Managing Director  of
   Custodian Capital Limited, said: “This  office was acquired in early  2015
   and has provided  the Company with  a stable income  stream over the  nine
   years of ownership, delivering an average yield of circa 7%. Given limited
   opportunities for future rental growth  and in-line with our strategy,  we
   felt that now was the right time to sell and crystallise a profit for  our
   shareholders. The sale demonstrates the  continued demand for smaller  lot
   sized regional assets, particularly from owner occupiers, and we expect to
   use the sale  proceeds to  repay variable  rate debt,  which will  further
   reduce our interest costs. It also allows the Company to fund improvements
   to the remaining  portfolio which  aligns with our  strategy of  providing
   shareholders with strong income returns.”

    

                                    - Ends -

    

   For further information, please contact:

    

   Custodian Capital Limited                                                 
   Richard Shepherd-Cross / Ed Moore / Ian           Tel: +44 (0)116 240 8740
   Mattioli MBE
                                                   1 www.custodiancapital.com

    

   Numis Securities Limited                             
   Hugh Jonathan / Nathan Brown Tel: +44 (0)20 7260 1000
                                       www.numiscorp.com

    

   FTI Consulting                                                            
   Richard Sunderland / Ellie Sweeney /              Tel: +44 (0)20 3727 1000
   Andrew Davis
                                              custodianreit@fticonsulting.com

    

   Notes to Editors

    

   Custodian Property Income REIT plc is  a UK real estate investment  trust,
   which listed on the main market of  the London Stock Exchange on 26  March
   2014.  Its   portfolio   comprises   properties   predominantly   let   to
   institutional  grade  tenants  throughout   the  UK  and  is   principally
   characterised by smaller, regional, core/core-plus properties. 

    

   The Company  offers  investors the  opportunity  to access  a  diversified
   portfolio of UK commercial  real estate through  a closed-ended fund.   By
   principally targeting  smaller, regional,  core/core-plus properties,  the
   Company seeks to provide investors with an attractive level of income with
   the potential for capital growth.

    

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

    

   For     more      information     visit       2 custodianreit.com      and
    3 custodiancapital.com.

    

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   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.

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   ISIN:           GB00BJFLFT45
   Category Code:  MSCU
   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.:   356135
   EQS News ID:    2019255


    
   End of Announcement EQS News Service

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