Share Name Share Symbol Market Type Share ISIN Share Description
Custodian REIT 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
  -0.20p -0.17% 115.00p 114.20p 115.00p 115.20p 114.20p 115.20p 1,994,092 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 27.6 24.2 8.1 14.2 444.88

Purchase of Property

22/12/2017 7:03am

UK Regulatory (RNS & others)


Dow Jones received a payment from EQS/DGAP to publish this press release.

 
 
 Custodian REIT plc (CREI) 
Purchase of Property 
 
22-Dec-2017 / 07:01 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. 
 
            22 December 2017 
 
      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 37,804 sq ft retail warehouse in Leicester, near 
  the Beaumont Shopping Centre and the city's outer ring road with excellent 
     links to the M1. The unit is occupied by Matalan, with nearby retailers 
            including Tesco, Argos, Wilko and Superdrug. 
 
  The unit's lease expires on 2 October 2028 with a passing rent of GBP502,900 
            per annum, reflecting a net initial yield1 of 7.36%. 
 
     The Company acquired the property by purchasing the entire issued share 
        capital of BL (Leicester) Limited and its wholly owned subsidiaries, 
Belgrave Land (Beaumont Leys) Limited and Belgrave Land (Leicester) Limited, 
 which respectively hold the long-leasehold interest in the property and its 
            occupational lease. 
 
   The agreed purchase price of GBP6.661 million was funded from the Company's 
 existing debt resources, resulting in net gearing2 increasing to 22.2% loan 
            to value. 
 
 Commenting on the acquisition, Richard Shepherd-Cross, Managing Director of 
 Custodian Capital Limited (the Company's discretionary investment manager), 
            said: 
 
 "Matalan has been trading from this location, adjacent to the 300,000 sq ft 
       Beaumont Shopping Centre, for many years and we are delighted to have 
  completed this acquisition. We believe the property will enhance Custodian 
   REIT's retail warehouse portfolio with a strongly trading business, which 
             has just invested circa GBP0.5m re-fitting the store." 
 
            1 Passing rent divided by purchase price plus purchaser's 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 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:  MSCM 
TIDM:           CREI 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   5045 
 
End of Announcement EQS News Service 
 
641355 22-Dec-2017 
 
 
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c24dec6d0ea6c746569ddd52de0eca8d&application_id=641355&site_id=vwd_london&application_name=news 
2: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=44eae66ce326b2005a19503bbab5faed&application_id=641355&site_id=vwd_london&application_name=news 
 

(END) Dow Jones Newswires

December 22, 2017 02:03 ET (07:03 GMT)

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