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

Custodian Property Income ReitAnnouncement

02/11/2021 07:05

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

   02-Nov-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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                                                              2 November 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  22,720 sq ft  car  showroom  in  Stafford  for
   £4.9 million, £1.15 million (31%)  ahead of  the 30  June 2021  valuation,
   representing a net initial yield1 of 5.8%.

    

   The property is let to VW Group UK Limited and was purchased in July  2018
   for £4.55 million.  Following the disposal, net gearing2 has decreased  to
   18.5%.

    

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

    

   "Having generated a good level of  income during three years of  ownership
   and with the current lease expiring in  2024, we accepted an offer from  a
   special purchaser to crystallise a profit and be able to reinvest the sale
   proceeds in assets with better rental growth prospects."

    

   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.:   125721
   EQS News ID:    1245234


    
   End of Announcement EQS News Service

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