Custodian REIT plc : Purchase of Property

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 Custodian REIT plc (CREI) 
Custodian REIT plc : Purchase of Property 
 
10-Apr-2018 / 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. 
 
            10 April 2018 
 
      Custodian REIT plc 
 
      ("Custodian REIT" or "the Company") 
 
      Purchase of Property 
 
  Custodian REIT (LSE: CREI), the UK property investment company, is pleased 
            to announce a further property purchase. 
 
  The Company has acquired a 53,198 sq ft distribution unit within Bellshill 
Industrial Estate, Bellshill located 10 miles east of Glasgow with access to 
    junction 7 of the M8 and junction 5 of the M74. Nearby occupiers include 
            Screwfix, DHL, Scania and TNT. 
 
  The unit is let to Yodel Delivery Network Limited on a lease expiring on 1 
  August 2025 with current passing rent of GBP275,000 reflecting a net initial 
            yield1 of 6.94%. 
 
    The agreed purchase price of GBP3.72 million was funded from the Company's 
existing debt facilities, resulting in net gearing2 increasing to 21.8% loan 
            to value. 
 
 Commenting on the acquisition, Richard Shepherd-Cross, Managing Director of 
 Custodian Capital Limited (the Company's discretionary investment manager), 
            said: 
 
  "We are delighted to have secured this purpose-built parcel delivery depot 
      on one of Scotland's prime distribution parks, let to a market leading 
      operator. The tenant has recently carried out significant works on the 
    property, demonstrating its commitment to the location, and we expect to 
            crystallise rental growth at the next review." 
 
    1 Passing rent divided by purchase price plus assumed purchasers' costs. 
 
2 Gross borrowings less unrestricted cash divided by last published property 
            portfolio valuation. 
 
      -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 
Hugh Jonathan/Nathan Brown              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 small lot 
          sizes, with individual property 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 smaller lot size 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:  MSCH 
TIDM:           CREI 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   5376 
 
End of Announcement EQS News Service 
 
672659 10-Apr-2018 
 
 
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c24dec6d0ea6c746569ddd52de0eca8d&application_id=672659&site_id=vwd_london&application_name=news 
2: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=44eae66ce326b2005a19503bbab5faed&application_id=672659&site_id=vwd_london&application_name=news 
 

(END) Dow Jones Newswires

April 10, 2018 02:03 ET (06:03 GMT)