Disposal of Property (1226505)
August 16 2021 - 2:00AM
UK Regulatory
Custodian REIT plc (CREI) Disposal of Property 16-Aug-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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16 August 2021
Custodian REIT plc
("Custodian REIT" or the "Company")
Disposal of Property
Custodian REIT (LSE: CREI), the UK property investment company,
is pleased to announce the disposal of a property from its
portfolio.
The Company has sold a 31,062 sq ft retail warehouse unit in
Galashiels for GBP4.5 million, GBP1.8 million (67%) ahead of the 30
June 2021 valuation, representing a net initial yield1 of
5.73%.
The property was purchased in May 2017 for GBP3.1m and has a
current weighted average unexpired lease term ("WAULT") of 3.3
years. Following the disposal, net gearing2 has decreased to
23.7%.
Commenting on the disposal, Richard Shepherd-Cross, Managing
Director of Custodian Capital Limited (the Company's external fund
manager), said:
"This disposal to a special purchaser crystallises a significant
profit on a unit with a relatively short WAULT and provides
liquidity to add to the Company's current pipeline of property
acquisition opportunities."
1 Passing rent divided by sale price plus estimated purchasers'
costs.
2 Gross borrowings less cash (excluding rent deposits and
retentions) 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
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 and
www.custodiancapital.com.
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ISIN: GB00BJFLFT45
Category Code: DIS
TIDM: CREI
LEI Code: 2138001BOD1J5XK1CX76
OAM Categories: 2.2. Inside information
Sequence No.: 119991
EQS News ID: 1226505
End of Announcement EQS News Service
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