DJ Custodian REIT plc: Disposal of Properties
Custodian REIT plc (CREI)
Custodian REIT plc: Disposal of Properties
29-Jan-2021 / 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.
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29 January 2021
Custodian REIT plc
("Custodian REIT" or the "Company")
Disposal of Properties
Custodian REIT (LSE: CREI), the UK property investment company, is pleased to announce the disposal of four properties
from its portfolio.
The Company has sold retail properties at auction in Chester, Scarborough, Bedford and Llandudno for an aggregate
GBP1.6m, in line with the most recent valuations.
The properties were originally acquired within larger portfolios in 2014 and 2015. The Chester unit is currently
vacant, the Scarborough and Bedford units are let on three-month rolling leases at below market rents and the Llandudno
unit is significantly over-rented with expiry in May 2022. These disposals have reduced the Company's high street
retail sector weighting from 11% to 10%.
Commenting on the disposals, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company's
external fund manager), said:
"These assets were not aligned with the strategy of the Company as we did not anticipate future rental growth. We have
already invested the sale proceeds in higher quality assets with greater prospects for income and capital growth,
better supporting the Board's objective of increasing dividends in a sustainable way."
- 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 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 and www.custodiancapital.com. -----------------------------------------------------------------------------------------------------------------------
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.: 92438 EQS News ID: 1163967 End of Announcement EQS News Service =------------------------------------------------------------------------------------
(END) Dow Jones Newswires
January 29, 2021 02:00 ET (07:00 GMT)
