Custodian REIT plc : Purchase of Property (1211351)
June 24 2021 - 2:01AM
UK Regulatory
Custodian REIT plc (CREI)
Custodian REIT plc : Purchase of Property
24-Jun-2021 / 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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24 June 2021
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 property purchase.
The Company has acquired a 9,016 sq ft industrial unit on Knowsley Business Park, Liverpool, following its acquisition
of five units on the same park earlier this month. The unit is occupied by Engineering Solutions and Automations
Limited with an unexpired term to first break or expiry of 4.1 years.
The unit has a passing rent of GBP45,000 per annum, reflecting a net initial yield1 of 5.17%.
The agreed purchase price of GBP0.825 million was funded from the Company's existing debt facilities, resulting in net
gearing2 increasing to 25.6% 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 another unit at this established industrial location with strong evidence of
increasing rents. We expect this unit's net initial yield to increase above 6% once an outstanding rent review is
settled."
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 / 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
Julia Tilley Tel: +44 (0)7815 068 387
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 and
www.custodiancapital.com.
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ISIN: GB00BJFLFT45
Category Code: MSCU
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.: 113199
EQS News ID: 1211351
End of Announcement EQS News Service
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