Custodian REIT plc : Disposal of Property (682749)

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 Custodian REIT plc (CREI) 
Custodian REIT plc : Disposal of Property 
 
08-May-2018 / 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. 
 
            8 May 2018 
 
      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 15,229 sq ft five-unit retail development in 
    Stourbridge for GBP2.25 million, in line with the 31 March 2018 valuation. 
 
    The property was part of the initial portfolio acquired on the Company's 
  admission to the London Stock Exchange in 2014. The Company intends to use 
   the proceeds from the disposal to fund acquisitions better aligned to its 
            stated investment strategy. 
 
    Commenting on the disposal, Richard Shepherd-Cross, Managing Director of 
      Custodian Capital Limited (the Company's external fund manager), said: 
 
        "We believe this asset is no longer aligned with the strategy of the 
         Company. While the property has delivered consistent cash flow from 
  excellent tenants, supporting the dividend policy, we are not confident of 
         future rental growth potential and believe disposal proceeds can be 
        redeployed on property with greater prospects for income and capital 
            growth." 
 
      - Ends - 
 
For further information, please contact: 
 
          Custodian Capital Limited 
Richard Shepherd-Cross / Nathan         Tel: +44 (0)116 240 8740 
Imlach / Ian Mattioli MBE 
                                    www.custodiancapital.com [1] 
 
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 is a UK real estate investment trust with a portfolio 
      comprising properties predominantly let to institutional grade tenants 
  throughout the UK, principally characterised by properties with individual 
             values of less than GBP10m 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 GBP10m lot size, regional properties, the Company 
     intends to provide investors with an attractive level of income and the 
   potential for capital growth, becoming the REIT of choice for private and 
            institutional investors seeking high and stable dividends from 
            well-diversified UK real estate. 
 
    Custodian Capital Limited is the discretionary investment manager of the 
            Company. 
 
            For more information visit www.custodianreit.com [2] and 
            www.custodiancapital.com [1]. 
 
ISIN:           GB00BJFLFT45 
Category Code:  DIS 
TIDM:           CREI 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   5506 
EQS News ID:    682749 
 
End of Announcement EQS News Service 
 
 
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c24dec6d0ea6c746569ddd52de0eca8d&application_id=682749&site_id=vwd_london&application_name=news 
2: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=44eae66ce326b2005a19503bbab5faed&application_id=682749&site_id=vwd_london&application_name=news

(END) Dow Jones Newswires

May 08, 2018 02:01 ET (06:01 GMT)

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