Custodian Property Income REIT plc: Disposal of Property
09 1월 2024 - 4:00PM
EQS Regulatory News
Custodian Property Income REIT plc (CREI)
Custodian Property Income REIT plc: Disposal of Property
09-Jan-2024 / 07:00 GMT/BST
9 January 2024
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 16,869 sq
ft office in Derby for £2.05m, 36% ahead of 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 office was acquired as
part of the Company’s IPO portfolio in 2014 and has provided the
Company with a healthy level of income over nine years of
ownership. Given limited opportunities for further rental
growth and in line with our strategy, we felt that now is the right
time to sell. We expect to
use the sale proceeds to repay variable rate debt and fund
accretive improvements in the remaining portfolio, both of 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 / 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
smaller, regional, core/core-plus properties.
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, regional,
core/core-plus properties, the Company seeks 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 custodianreit.com and
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.: |
296164 |
EQS News ID: |
1810455 |
|
End of Announcement |
EQS News Service |
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