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

Custodian Property Income ReitAnnouncement

11/07/2022 07:15

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

   11-Jul-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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                                                                 11 July 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  drive-through restaurants  on Clifton  Moor
   Retail Park, York, adjacent  to York’s northern  bypass which connects  to
   both the A1(M) and  M62.  The units  are occupied by  Burger King and  KFC
   franchisees with  a weighted  average  unexpired term  to first  break  or
   expiry of 9.7 years.

    

   The units have an aggregate passing rent of £163,250 per annum, reflecting
   a net initial yield1 of 5.07%.

    

   The agreed purchase price of £3.025 million was funded from the  Company’s
   existing debt facilities, moving net gearing2 to 22.5% 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 these  modern assets  on the  foremost
   retail and  leisure destination  in North  Yorkshire.  The  drive  through
   sector continues to show considerable  growth which we believe will  drive
   rents over the medium term resulting in an increasingly attractive yield.”

    

   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.:  173700
   EQS News ID:   1394375


    
   End of Announcement EQS News Service

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