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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.40 | -0.52% | 76.70 | 76.80 | 77.10 | 78.70 | 76.60 | 78.60 | 258,258 | 16:35:06 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 44.15M | -65.82M | -0.1493 | -5.13 | 337.69M |
Dow Jones received a payment from EQS/DGAP to publish this press release.
Custodian REIT plc (CREI) Custodian REIT plc : Purchase of Property 04-Dec-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. 4 December 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 the 44,844 sq ft Jubilee Close Retail Park in Weymouth, comprising three units occupied by B&Q, Halfords and Sports Direct with nearby retailers including Currys, KFC and Matalan. The units' have a weighted average unexpired lease term to first break or expiry of 7.8 years. Current aggregate passing rent is GBP803,000, reflecting a net initial yield1 of 6.97%. The agreed purchase price of GBP10.8 million was funded from the Company's existing debt resources, resulting in net gearing2 increasing to 25.5% loan to value. Commenting on the acquisition, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company's discretionary investment manager), said: "Despite the investment market's aversion to the retail sector, we believe that these occupiers will continue to prosper despite challenges from on-line sales and with nearly 8 years contractual income, strong trading performances and a 7% initial yield, this property meets our investment criteria. "We believe well located retail warehouse properties which either do not compete with on-line retailing or are complementary, through offering easy click and collect services, will remain in demand despite the current restructuring of the retail market." 1 Passing rent divided by valuation 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: +44 (0)116 240 8740 Imlach / Ian Mattioli MBE www.custodiancapital.com [1] Numis Securities Limited Nathan Brown / Hugh Jonathan 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 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: MSCH TIDM: CREI OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 6740 EQS News ID: 753957 End of Announcement EQS News Service 1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c24dec6d0ea6c746569ddd52de0eca8d&application_id=753957&site_id=vwd_london&application_name=news 2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=44eae66ce326b2005a19503bbab5faed&application_id=753957&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
December 04, 2018 02:01 ET (07:01 GMT)
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