DJ Custodian Property Income REIT plc: Disposal of Property
Custodian Property Income REIT plc (CREI)
Custodian Property Income REIT plc: Disposal of Property
17-Sep-2024 / 07:00 GMT/BST
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17 September 2024
Custodian Property Income REIT plc
("Custodian Property Income REIT" or the "Company")
Disposal of Property
Custodian Property Income REIT (LSE: CREI), which seeks to deliver a strong income return by investing in a diversified
portfolio of smaller regional properties across the UK, is pleased to announce the disposal of a vacant office unit in
Castle Donington for GBP1.75m, in line with the 30 June 2024 valuation, having acquired the property as part of a
portfolio in June 2016.
Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited, said: "Following
the exit of the tenant at lease expiry, substantial refurbishment would be needed to secure a new letting and maintain
the rental level which we did not believe would be cost effective. The sale demonstrates the continued demand for
smaller lot sized regional assets, particularly from owner occupiers, and we expect to use the sale proceeds to repay
variable rate debt, which aligns to our strategy of providing shareholders with strong income returns."
- Ends -
For further information, please contact:
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
FTI Consulting
Richard Sunderland / Ellie Sweeney / Andrew Davis Tel: +44 (0)20 3727 1000
custodianreit@fticonsulting.com
Notes to Editors
Custodian Property Income 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 throughout the UK and is principally characterised by smaller, regional, core/core-plus properties.
The Company offers investors the opportunity to access a diversified portfolio of UK commercial real estate through a closed-ended fund. By principally targeting smaller, regional, core/core-plus properties, the Company seeks 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 custodianreit.com and custodiancapital.com.
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: GB00BJFLFT45 Category Code: MSCH 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.: 347111 EQS News ID: 1988865 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
September 17, 2024 02:00 ET (06:00 GMT)
