Custodian REIT plc : Disposal of business park office property for GBP2.8m (1501089)

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: [phone] 
 
                                                      www.custodiancapital.com 
 
 
 
 Numis Securities Limited 
 
 Hugh Jonathan            Tel: [phone] 
 
                          www.numiscorp.com 
 
 
 
 FTI Consulting 
 
 Richard Sunderland / Ellie Sweeney  Tel: [phone] 
 
                                     [e-mail] 
 

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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November 30, 2022 02:00 ET (07:00 GMT)