Custodian REIT plc : Disposal of Property (728827)

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 Custodian REIT plc (CREI) 
Custodian REIT plc : Disposal of Property 
 
28-Sep-2018 / 15:42 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. 
 
            28 September 2018 
 
      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 22,224 sq ft industrial warehouse unit in Southwark 
  for GBP12.0 million, GBP4.4 million (58%) ahead of the 30 June 2018 valuation, 
            representing a net initial yield1 of 2.95%. 
 
 The property was purchased in 2014 for GBP3.12 million as part of the initial 
 portfolio acquired on the Company's admission to the London Stock Exchange. 
           The Company intends to use the proceeds from the disposal to fund 
            acquisitions that will enhance dividend cover. 
 
    Commenting on the disposal, Richard Shepherd-Cross, Managing Director of 
      Custodian Capital Limited (the Company's external fund manager), said: 
 
     "The lack of available investment stock in Central London combined with 
  strong investment demand and a recent, substantial rental increase has led 
      to significant valuation increases. Over and above this, redevelopment 
         potential and identification of a special purchaser has delivered a 
            substantial profit over and above the most recent valuation." 
 
      1 Passing rent divided by sale price plus estimated purchasers' costs. 
 
      - Ends - 
 
For further information, please contact: 
 
          Custodian Capital Limited 
Richard Shepherd-Cross / Nathan         Tel: [phone] 
Imlach / Ian Mattioli MBE 
                                    www.custodiancapital.com [1] 
 
Numis Securities Limited 
Nathan Brown / Hugh Jonathan Tel: [phone] 
                                    www.numiscorp.com 
 
Camarco 
Ed Gascoigne-Pees Tel: [phone] 
                         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 GBP10 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 GBP10 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 www.custodianreit.com [2] and 
            www.custodiancapital.com [1]. 
 
ISIN:           GB00BJFLFT45 
Category Code:  DIS 
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.:   6098 
EQS News ID:    728827 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c24dec6d0ea6c746569ddd52de0eca8d&application_id=728827&site_id=vwd_london&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=44eae66ce326b2005a19503bbab5faed&application_id=728827&site_id=vwd_london&application_name=news 
 

(END) Dow Jones Newswires

September 28, 2018 10:43 ET (14:43 GMT)