DJ Custodian Property Income REIT plc: Disposal of Property
Custodian Property Income REIT plc (CREI)
Custodian Property Income REIT plc: Disposal of Property
10-Apr-2024 / 07:00 GMT/BST
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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 GBP2.35m, 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.
----------------------------------------------------------------------------------------------------------------------- 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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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 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
April 10, 2024 02:00 ET (06:00 GMT)
