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

Custodian Property Income ReitAnnouncement

03/03/2022 07:15

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

   03-March-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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                                                                 3 March 2022

    

                                        

                               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 24,134  sq ft  industrial unit  on  Moorgreen
   Industrial Park, Nottingham, four miles from M1 J27.  The unit is occupied
   by Hickling &  Squires with  a weighted  average unexpired  term to  first
   break or expiry of 7.0 years.

    

   The unit  has a  passing rent  of  £130,000 per  annum, reflecting  a  net
   initial yield1 of 6.53%.

    

   The agreed purchase price of £1.875 million was funded from the  Company's
   existing debt facilities,  resulting in net  gearing2 increasing to  20.7%
   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 modern  industrial asset  in  an
   excellent location.   The  purchase  was agreed  off-market  and  the  net
   initial yield  of  6.53%  is  above  average  for  a  market  typified  by
   significant occupier demand leading to rental increases."

    

   1 Passing rent divided by purchase price plus assumed purchaser's 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: MSCH
   TIDM:          CREI
   LEI Code:      2138001BOD1J5XK1CX76
   Sequence No.:  146481
   EQS News ID:   1292983


    
   End of Announcement EQS News Service

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