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

Custodian Property Income ReitAnnouncement

20/05/2022 07:15

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

   20-May-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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                                                                  20 May 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 two  retail  units on  Winchester  High  Street
   covering an aggregate 5,228 sq ft  let to Nationwide Building Society  and
   Hobbs.  Nearby occupiers include Marks & Spencer, Boots, Halifax Bank  and
   Superdrug.

    

   The tenants’ leases expire in April 2028 and December 2031 respectively at
   an aggregate current passing rent of £249,200 per annum, reflecting a  net
   initial yield 1  1  of 6.41%.

    

   The agreed purchase price of £3.65  million was funded from the  Company’s
   existing debt facilities,  resulting in net  gearing2 increasing to  20.5%
   loan to value.

    

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

    

   “Winchester is one of the UK’s  most vibrant shopping locations3.  We  are
   delighted to  have secured  this property  on Winchester‘s  city  centre’s
   prime retail pitch which remains  a sought after location with  occupation
   levels well above average.  We have recently seen prime high street retail
   rents improving for the  first time in  over four years  and we feel  this
   asset is a positive addition to our diversified portfolio at an attractive
   yield, well above Winchester’s historical average.”

    

   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.

   3 Source: Retail-week.com

    

    

                                     -Ends-

    

   For further information, please contact:

    

   Custodian Capital Limited                                                 
   Richard Shepherd-Cross / Ed Moore / Ian           Tel: +44 (0)116 240 8740
   Mattioli MBE
                                                   2 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      3 www.custodianreit.com     and
    4 www.custodiancapital.com.

    

    

    

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   ISIN:          GB00BJFLFT45
   Category Code: MSCH
   TIDM:          CREI
   LEI Code:      2138001BOD1J5XK1CX76
   Sequence No.:  162957
   EQS News ID:   1357189


    
   End of Announcement EQS News Service

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