Custodian Property Income REIT plc: Disposal of Property (1771049)
November 13 2023 - 2:00AM
UK Regulatory
Custodian Property Income REIT plc (CREI)
Custodian Property Income REIT plc: Disposal of Property
13-Nov-2023 / 07:00 GMT/BST
=----------------------------------------------------------------------------------------------------------------------
13 November 2023
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 children's day nursery
in Chesham for GBP0.55m, in line with the 30 September 2023 valuation.
Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company's
external fund manager), said: "This asset was considered sub-scale and no longer aligned with the strategy of the
Company. Following a recent lease renewal the property had a 13 year unexpired lease term and now was felt the optimum
time to sell. We expect to use the sale proceeds to fund improvements in the remaining portfolio, which we believe will
better support the strategy of providing our 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 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 sub GBP15m 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.
-----------------------------------------------------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------------------------------------------------
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.: 284264
EQS News ID: 1771049
End of Announcement EQS News Service
=------------------------------------------------------------------------------------
Image link:
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1771049&application_name=news
(END) Dow Jones Newswires
November 13, 2023 02:00 ET (07:00 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