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Custodian Property Income REIT plc (CREI)
Custodian Property Income REIT plc: Disposal of Property
10-Apr-2024 / 07:00 GMT/BST
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10 April 2024
Custodian Property Income REIT plc
(“Custodian Property Income REIT” or the “Company”)
Disposal of Property
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 completion of
the disposal of a vacant car showroom in Redhill for £2.35m, representing
a 15% premium to the 31 December 2023 valuation, previously disclosed in
the Company’s announcement of 28 February 2024.
Commenting on the disposal, Richard Shepherd-Cross, Managing Director of
Custodian Capital Limited (the Company’s external fund manager), said:
“Having initially considered refurbishing and reletting the asset, strong
demand for the site from residential developers became apparent during the
marketing period and disposing ahead of valuation to fund improvements to
the remaining portfolio was deemed more accretive to shareholders.”
- 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
Deutsche Numis
Nathan Brown / Hugh Jonathan Tel: +44 (0)20 7260 1000
www.numiscorp.com
FTI Consulting
Richard Sunderland / Andrew Davis / Oliver Tel: +44 (0)20 3727 1000
Parsons
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.: 314576
EQS News ID: 1876913
End of Announcement EQS News Service
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