Custodian REIT plc : Purchase of Property (1227490)
August 19 2021 - 2:00AM
UK Regulatory
Custodian REIT plc (CREI) Custodian REIT plc : Purchase of
Property 19-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.
-----------------------------------------------------------------------------------------------------------------------
19 August 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 29,676 sq ft industrial unit on
Wester Gourdie Industrial Estate, Dundee, adjacent to the A90. The
unit is occupied by Menzies Distribution Limited with an unexpired
term to first break or expiry of 5.2 years.
The unit has a passing rent of GBP117,500 per annum, reflecting
a net initial yield1 of 5.89%.
The agreed purchase price of GBP1.9 million was funded from the
Company's existing debt facilities, resulting in net gearing2
increasing to 23.7% 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 this well located industrial
distribution asset, let to a strong and expanding tenant that we
know well. The area displays strong evidence of increasing
industrial rents, offering short-medium term asset management
opportunities."
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
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 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.
-----------------------------------------------------------------------------------------------------------------------
ISIN: GB00BJFLFT45
Category Code: ACQ
TIDM: CREI
LEI Code: 2138001BOD1J5XK1CX76
OAM Categories: 2.2. Inside information
Sequence No.: 120314
EQS News ID: 1227490
End of Announcement EQS News Service
=------------------------------------------------------------------------------------
Image link:
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1227490&application_name=news
(END) Dow Jones Newswires
August 19, 2021 02:00 ET (06:00 GMT)
Custodian Property Incom... (LSE:CREI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Custodian Property Incom... (LSE:CREI)
Historical Stock Chart
From Jul 2023 to Jul 2024