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

Custodian Property Income ReitAnnouncement

08/06/2022 07:15

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

   08-Jun-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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                                                                  8 June 2022

    

                                        

                               Custodian REIT plc

                                        

                      (“Custodian REIT” or the “Company”)

                                        

                              Disposal of Property

    

   Custodian REIT (LSE: CREI), the UK property investment company, is pleased
   to announce the disposal of a property from its portfolio.

    

   The Company  has  sold  a  24,178 sq ft  car  showroom  in  Derby  let  to
   Volkswagen for £5.6 million, £1.2 million (26%) ahead of the 31 March 2022
   valuation, representing  a  net initial  yield1  of 5.7%.   Following  the
   disposal, net gearing2 has decreased to 20.5%.

    

   Commenting on the disposal,  Richard Shepherd-Cross, Managing Director  of
   Custodian Capital Limited (the Company’s external fund manager), said:

    

   “This asset has provided a healthy level of income over our five years  of
   ownership and is  being sold  to a  ‘special purchaser’  at a  significant
   profit.  We have  a strong  pipeline of assets  on which  to redeploy  the
   proceeds of  this sale  with  better rental  growth and  asset  management
   prospects.”

    

   1 Passing rent divided by sale price plus estimated purchasers’ costs.

   2 Gross  borrowings less  cash (excluding  rent 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  properties  with  individual  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 sub  £10  million lot  size,  regional 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.:  166767
   EQS News ID:   1370367


    
   End of Announcement EQS News Service

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