REG-Custodian REIT plc Custodian REIT plc : Disposal of Properties

Custodian Property Income ReitAnnouncement

06/07/2022 07:15

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   Custodian REIT plc (CREI)
   Custodian REIT plc : Disposal of Properties

   06-Jul-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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                                                                  6 July 2022

    

                               Custodian REIT plc

                                        

                      (“Custodian REIT” or the “Company”)

                                        

                             Disposal of Properties

    

   Custodian REIT (LSE: CREI), the UK property investment company focused  on
   smaller lot sizes, is pleased to announce the disposal of a property  from
   its portfolio. 

    

   The Company has  sold a retail  unit in Weston-super-Mare  at auction  for
   £0.7m, in line with the most recent valuation.  A five year lease  renewal
   had recently been  completed with  Superdrug with  annual rent  decreasing
   from £124k to £60k.

    

   Commenting on the disposal,  Richard Shepherd-Cross, Managing Director  of
   Custodian Capital Limited (the Company’s external fund manager), said:

    

   “This asset was not aligned with the strategy of the Company as we did not
   anticipate rents recovering and continues our planned disposals  programme
   of non-prime high  street retail  assets.  We  expect to  invest the  sale
   proceeds in higher quality  assets with greater  prospects for income  and
   capital growth,  better supporting  the  Board’s objective  of  increasing
   dividends in a sustainable way.”

    

                                    - 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

    

   Camarco                                   
   Ed Gascoigne-Pees Tel: +44 (0)20 3757 4984
                            www.camarco.co.uk

    

   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 £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 £10m 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      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.:  172777
   EQS News ID:   1391265


    
   End of Announcement EQS News Service

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