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

Custodian Property Income ReitAnnouncement

30/11/2022 07:00

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   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.

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                                                             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     │   Tel: +44 (0)116 240 8740│
   │Mattioli MBE                                │                           │
   ├────────────────────────────────────────────┼───────────────────────────┤
   │                                            │ 1 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│
   ├──────────────────────────────────┼──────────────────────────────────┤
   │                                  │ 2 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      3 www.custodianreit.com     and
    4 www.custodiancapital.com.

    

    

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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.:   204943
   EQS News ID:    1501089


    
   End of Announcement EQS News Service

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References

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