REG-Custodian Property Income REIT plc Custodian Property Income REIT plc: Disposal of Retail Property

Custodian Property Income ReitAnnouncement

27/06/2023 07:15

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   Custodian Property Income REIT plc (CREI)
   Custodian Property Income REIT plc: Disposal of Retail Property

   27-Jun-2023 / 07:00 GMT/BST

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                                                                 27 June 2023

    

                       Custodian Property Income REIT plc

                                        

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

                                        

                          Disposal of Retail Property

    

   Custodian Property  Income REIT  (LSE: CREI),  which seeks  to deliver  an
   enhanced income return by investing in a diversified portfolio of smaller,
   regional, core/core-plus properties across the UK, is pleased to  announce
   the disposal of a high  street retail unit in  Bury St Edmunds at  auction
   for £0.85m, in line with the 31 March 2023 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  rent
   decreasing by 8%, we felt  this was the right time  to sell as we did  not
   anticipate rents recovering in the medium-term.  We will recycle the  sale
   proceeds into improvements  to the  remaining portfolio  which we  believe
   better aligns to 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 / 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 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  smaller,  core/core-plus, 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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   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:  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.:   253504
   EQS News ID:    1665743


    
   End of Announcement EQS News Service

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