Custodian Property Income REIT plc: Disposal of Property
Custodian Property Income REIT plc (CREI)
10-Apr-2024 / 07:00 GMT/BST
10 April 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 completion of the disposal of a vacant car showroom in Redhill for £2.35m, representing a 15% premium to the 31 December 2023 valuation, previously disclosed in the Company’s announcement of 28 February 2024. Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s external fund manager), said: “Having initially considered refurbishing and reletting the asset, strong demand for the site from residential developers became apparent during the marketing period and disposing ahead of valuation to fund improvements to the remaining portfolio was deemed more accretive to shareholders.” - 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 |
| Deutsche Numis | | | Nathan Brown / Hugh Jonathan | 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.
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The issuer is solely responsible for the content of this announcement.
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| ISIN: | GB00BJFLFT45 |
| Category Code: | MSCU |
| 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.: | 314576 |
| EQS News ID: | 1876913 |
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| End of Announcement | EQS News Service |
