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

Custodian Property Income ReitAnnouncement

25/10/2021 07:05

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

   25-Oct-2021 / 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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                                                              25 October 2021

    

                                        

                               Custodian REIT plc

                                        

                      ("Custodian REIT" or the "Company")

                                        

                              Disposal of Property

    

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

    

   The Company  has  sold  a  42,289 sq ft  car  showroom  in  Stockport  for
   £9.0 million, £1.4 million  (18%) ahead  of the  30 June  2021  valuation,
   representing a net initial yield1 of 6.7%.

    

   The property is let  to Williams BMW  and Mini and  was purchased in  July
   2017 for £8.8 million.  Following the disposal, net gearing2 has decreased
   to 19.5%.

    

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

    

   "This asset has provided a healthy level of income over our four years  of
   ownership, during  which we  completed  the asset  management  initiatives
   identified on acquisition of re-basing the rent and transferring the lease
   to a much stronger group covenant."

    

   1 Passing rent divided by sale price plus estimated purchasers' costs.

   2 Gross  borrowings less  cash (excluding  rent deposits  and  retentions)
   divided by last published property portfolio valuation.

    

                                    - 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

    

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

    

   Notes to Editors

    

   Custodian 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 on long leases throughout the UK and is principally  characterised
   by  properties  with  individual  values  of  less  than  £10  million  at
   acquisition. 

    

   The Company  offers  investors the  opportunity  to access  a  diversified
   portfolio of UK commercial  real estate through  a closed-ended fund.   By
   targeting sub  £10  million 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:  DIS
   TIDM:           CREI
   LEI Code:       2138001BOD1J5XK1CX76
   OAM Categories: 2.2. Inside information
   Sequence No.:   125047
   EQS News ID:    1243011


    
   End of Announcement EQS News Service

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