DJ Custodian REIT plc: Disposal of business park office property for GBP2.8m
Custodian REIT plc (CREI) Custodian REIT plc: Disposal of business park office property for GBP2.8m 30-Nov-2022 / 07:00 GMT/BST 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.
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30 November 2022
Custodian REIT plc
("Custodian REIT" or the "Company")
Disposal of business park office property for GBP2.8m
Custodian 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 16,941 sq ft office property in Leicester for GBP2.8m, in line with the most recent valuation.
Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company's external fund manager), said:
"This asset was acquired as part of the Company's IPO portfolio in 2014. It has been fully let since, delivering an average yield of 9% per annum but has seen no rental or valuation growth over our period of ownership and this trend is expected to continue. We expect to invest the sale proceeds in the Company's remaining assets which have greater prospects for income and capital growth, better supporting the Board's objective of increasing dividends in a sustainable way and enhancing the portfolio's environmental credentials."
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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
FTI Consulting
Richard Sunderland / Ellie Sweeney Tel: +44 (0)20 3727 1000
custodianreit@fticonsulting.com
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 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 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.
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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.: 204943 EQS News ID: 1501089 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
November 30, 2022 02:00 ET (07:00 GMT)
