Custodian Property Income REIT plc: Disposal of Retail Property (1665743)
June 27 2023 - 2:00AM
UK Regulatory
Custodian Property Income REIT plc (CREI)
Custodian Property Income REIT plc: Disposal of Retail Property
27-Jun-2023 / 07:00 GMT/BST
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27 June 2023
Custodian Property Income REIT plc
("Custodian Property Income REIT" or the "Company")
Disposal of Retail Property
Custodian Property Income REIT (LSE: CREI), which seeks to deliver an enhanced income return by investing in a
diversified portfolio of smaller, regional, core/core-plus properties across the UK, is pleased to announce the
disposal of a high street retail unit in Bury St Edmunds at auction for GBP0.85m, in line with the 31 March 2023
valuation.
Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company's
external fund manager), said: "Having recently increased the lease term by five years but with rent decreasing by 8%,
we felt this was the right time to sell as we did not anticipate rents recovering in the medium-term. We will recycle
the sale proceeds into improvements to the remaining portfolio which we believe better 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 / Andrew Davis / Oliver Parsons 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 properties with individual
values of less than GBP15m at acquisition.
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,
core/core-plus, 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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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.: 253504
EQS News ID: 1665743
End of Announcement EQS News Service
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