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

Custodian Property Income ReitAnnouncement

03/09/2021 07:05

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

   03-Sep-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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                                                             3 September 2021

    

                                        

                               Custodian REIT plc

                                        

                      ("Custodian REIT" or the "Company")

                                        

                              Purchase of Property

    

   Custodian REIT (LSE: CREI), the UK property investment company, is pleased
   to announce a further property purchase.

    

   The Company  has acquired  a  20,012 sq  ft  office building  on  Fountain
   Street, Manchester  which is  a  short walk  from Piccadilly  Gardens  and
   Oxford Road station.  Other local occupiers include Savills, Sixteen  Real
   Estate, Chartered Wealth Management and Royal & Sun Alliance Insurance.

    

   The property comprises basement parking and  six floors let to Leyton  UK,
   Meridian Healthcomms,  Venditan and  Fourthline  with a  weighted  average
   unexpired lease term to first break  or expiry ("WAULT") of 1.2 years  and
   an aggregate  rent  of  £406,704  per  annum,  reflecting  a  net  initial
   yield 1  1  of 6.10%.

    

   The agreed purchase price of £6.25  million was funded from the  Company's
   existing debt  facilities, resulting  in net  gearing 2  2  increasing  to
   25.2% loan to value.

    

   Commenting on the acquisition,  Richard Shepherd-Cross, Managing  Director
   of Custodian  Capital  Limited  (the  Company's  discretionary  investment
   manager), said:

    

   "We are delighted to have secured  this high quality office building in  a
   proven  central  Manchester  location,  which  continues  the  pre-emptive
   deployment of  proceeds  from  the  sale  of  a  portfolio  of  industrial
   properties due to  complete later  this month.  The  short WAULT  provides
   potential asset  management opportunities  to enhance  value and  increase
   passing rent."

    

   1 Aggregate rent, which includes  rental guarantees, divided by  valuation
   plus estimated purchaser's costs.

   2 Gross  borrowings  less  cash  (excluding  tenant  rental  deposits  and
   retentions) divided by last published property portfolio value.

    

                                     -Ends-

    

    

   For further information, please contact:

    

   Custodian Capital Limited                                                 
   Richard Shepherd-Cross / Ed Moore / Ian           Tel: +44 (0)116 240 8740
   Mattioli MBE
                                                   3 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 small  lot sizes,  with individual  property 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 smaller  lot size  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      4 www.custodianreit.com     and
    5 www.custodiancapital.com.

    

    

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   ISIN:          GB00BJFLFT45
   Category Code: ACQ
   TIDM:          CREI
   LEI Code:      2138001BOD1J5XK1CX76
   Sequence No.:  121372
   EQS News ID:   1230988


    
   End of Announcement EQS News Service

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