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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Custodian Property Income Reit Plc | LSE:CREI | London | Ordinary Share | GB00BJFLFT45 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.20 | -0.26% | 75.40 | 75.20 | 75.50 | 76.70 | 75.10 | 76.70 | 366,951 | 16:35:25 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Investment Trust | 44.15M | -65.82M | -0.1493 | -5.04 | 331.96M |
From Apr 2022 to Apr 2024
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 GBP5.6 million, GBP1.2 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:
Hot Features
Premium
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 / 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 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 and 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 =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1370367&application_name=news
(END) Dow Jones Newswires
June 08, 2022 02:00 ET (06:00 GMT)
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