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

Custodian Property Income ReitAnnouncement

21/10/2021 07:05

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

   21-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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                                                              21 October 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 property purchase.

    

   The Company has acquired  a 28,601 sq ft  industrial unit on Clifton  Moor
   Industrial Estate, York, adjacent to York's northern bypass which connects
   to both the A1(M) and M62.   The unit is occupied by Menzies  Distribution
   Limited with a weighted average unexpired term to first break or expiry of
   2.8 years.

    

   The unit  has a  passing rent  of  £186,000 per  annum, reflecting  a  net
   initial yield1 of 5.90%.

    

   The agreed purchase price of £2.962 million was funded from the  Company's
   existing debt facilities,  resulting in net  gearing2 increasing to  20.8%
   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 logistics  asset located  on  an
   industrial estate  in high  demand from  occupational tenants  due to  its
   excellent location.  This demand has led to strong evidence of  increasing
   industrial rents, offering an accretive asset management opportunity."

    

   1 Passing rent divided by purchase price plus assumed purchasers' costs.

   2 Gross  borrowings  less  cash  (excluding  tenant  rental  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 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      2 www.custodianreit.com     and
    3 www.custodiancapital.com.

    

    

    

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   ISIN:           GB00BJFLFT45
   Category Code:  ACQ
   TIDM:           CREI
   LEI Code:       2138001BOD1J5XK1CX76
   OAM Categories: 2.2. Inside information
   Sequence No.:   124844
   EQS News ID:    1242361


    
   End of Announcement EQS News Service

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