Custodian REIT plc : Disposal of business park office property for GBP2.8m (1501089)
30 November 2022 - 6:00PM
UK Regulatory
Custodian REIT plc (CREI) Custodian REIT plc : Disposal of
business park office property for GBP2.8m 30-Nov-2022 / 07:00
GMT/BST Dissemination of a Regulatory Announcement that contains
inside information in accordance with the Market Abuse Regulation
(MAR), transmitted by EQS Group. The issuer is solely responsible
for the content of this announcement.
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30 November 2022
Custodian REIT plc
("Custodian REIT" or the "Company")
Disposal of business park office property for GBP2.8m
Custodian REIT (LSE: CREI), which seeks to deliver a strong
income return by investing in a diversified portfolio of smaller
regional properties across the UK, is pleased to announce the
disposal of a 16,941 sq ft office property in Leicester for
GBP2.8m, in line with the most recent valuation.
Commenting on the disposal, Richard Shepherd-Cross, Managing
Director of Custodian Capital Limited (the Company's external fund
manager), said:
"This asset was acquired as part of the Company's IPO portfolio
in 2014. It has been fully let since, delivering an average yield
of 9% per annum but has seen no rental or valuation growth over our
period of ownership and this trend is expected to continue. We
expect to invest the sale proceeds in the Company's remaining
assets which have greater prospects for income and capital growth,
better supporting the Board's objective of increasing dividends in
a sustainable way and enhancing the portfolio's environmental
credentials."
- Ends -
For further information, please contact:
Custodian Capital Limited
Richard Shepherd-Cross / Ed Moore / Ian Mattioli MBE Tel: +44 (0)116 240 8740
www.custodiancapital.com
Numis Securities Limited
Hugh Jonathan Tel: +44 (0)20 7260 1000
www.numiscorp.com
FTI Consulting
Richard Sunderland / Ellie Sweeney Tel: +44 (0)20 3727 1000
custodianreit@fticonsulting.com
Notes to Editors
Custodian REIT is a UK real estate investment trust with a
portfolio comprising properties predominantly let to institutional
grade tenants throughout the UK, principally characterised by
properties with individual values of less than GBP15m at
acquisition.
The Company offers investors the opportunity to access a
diversified portfolio of UK commercial real estate through a
closed-ended fund. By principally targeting sub GBP15m lot size,
regional properties, the Company intends to provide investors with
an attractive level of income and the potential for capital growth,
becoming the REIT of choice for private and institutional investors
seeking high and stable dividends from well-diversified UK real
estate.
Custodian Capital Limited is the discretionary investment
manager of the Company.
For more information visit www.custodianreit.com and
www.custodiancapital.com.
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ISIN: GB00BJFLFT45
Category Code: MSCH
TIDM: CREI
LEI Code: 2138001BOD1J5XK1CX76
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 204943
EQS News ID: 1501089
End of Announcement EQS News Service
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