DJ Custodian Property Income REIT plc: Disposal of Properties at or above book value
Custodian Property Income REIT plc (CREI)
Custodian Property Income REIT plc: Disposal of Properties at or above book value
15-May-2025 / 07:00 GMT/BST
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15 May 2025
Custodian Property Income REIT plc
("Custodian Property Income REIT" or the "Company")
Disposal of Properties at or above book value
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 two office buildings in
Cheadle for an aggregate GBP6.9m.
5500 Lakeside, which is 66% let, was sold for GBP4.0m in line with the 31 December 2024 valuation, while the disposal of
Wienerberger House, which is fully let, was achieved at a 10% premium to the valuation at the same date. The assets
had both been acquired as part of portfolio acquisitions in November 2021 and May 2016, respectively.
Commenting on the disposals, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited, said: "Whilst we
have received a healthy level of income across both properties, due to market sentiment in the out-of-town office
sector, we believe that there is limited scope for future rental growth and we felt that now is the right time to sell.
The transactions once again prove our ability to make sales at or above book valuation and we expect to use the
proceeds to repay variable rate debt, aligning with our strategy of providing shareholders with strong income returns."
- Ends -
Further information:
Further information regarding the Company can be found at the Company's website custodianreit.com or please contact:
Custodian Capital Limited
Richard Shepherd-Cross - Managing Director
Ed Moore - Finance Director Tel: +44 (0)116 240 8740
Ian Mattioli MBE DL - Chairman
www.custodiancapital.com
Numis Securities Limited
Hugh Jonathan / George Shiel Tel: +44 (0)20 7260 1000
www.numis.com/funds
FTI Consulting
Richard Sunderland / Ellie Sweeney / 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.: 388342 EQS News ID: 2137542 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
May 15, 2025 02:01 ET (06:01 GMT)
