REG-Custodian Property Income REIT plc Custodian Property Income REIT plc: Custodian Property Income REIT sells retail unit 35% ahead of valuation

Custodian Property Income ReitAnnouncement

31/01/2023 07:15

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   Custodian Property Income REIT plc (CREI)
   Custodian Property Income REIT plc: Custodian Property Income REIT sells
   retail unit 35% ahead of valuation

   31-Jan-2023 / 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.

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                                                              31 January 2023

    

                       Custodian Property Income REIT plc

                                        

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

                                        

    Custodian Property Income REIT sells retail unit 35% ahead of 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 high street retail unit in Bury St Edmunds at auction for £0.54m, £0.14m
   (35%) ahead of valuation. 

    

   Commenting on the disposal,  Richard Shepherd-Cross, Managing Director  of
   Custodian Capital  Limited (the  Company’s external  fund manager),  said:
   “Having recently increased the  lease term by five  years but with  annual
   rent decreasing from  £53k to £40k,  now was  the right time  to sell  and
   crystallise a valuation  uplift.  We did  not anticipate rents  recovering
   and this disposal  continues our  planned programme  of selling  non-prime
   high street retail assets.   We expect to recycle  the sale proceeds  into
   improvements to  the  remaining portfolio  which  we believe  will  better
   support the  strategy of  providing our  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 properties with  individual values of  less than £10m  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 with  the
   potential for capital growth.

    

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

    

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

    

    

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   ISIN:          GB00BJFLFT45
   Category Code: MSCH
   TIDM:          CREI
   LEI Code:      2138001BOD1J5XK1CX76
   Sequence No.:  219434
   EQS News ID:   1546995


    
   End of Announcement EQS News Service

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