Custodian Property Income REIT plc: Disposal of Retail Property
Custodian Property Income REIT plc (CREI)
Custodian Property Income REIT plc: Disposal of Retail Property
12-Jun-2023 / 07:00 GMT/BST
12 June 2023
Custodian Property Income REIT plc
(“Custodian Property Income REIT” or the “Company”)
Disposal of Retail 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 the disposal of a high street retail unit in Cirencester at auction for £0.72m, in line with the 31 March 2023 valuation.
Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s external fund manager), said: “We were not confident in this asset’s future rental growth prospects and expect to use the sale proceeds to improve the remaining portfolio, which we believe will better support the strategy of providing our shareholders with strong income returns.”
– 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 / Nathan Brown |
Tel: +44 (0)20 7260 1000 |
|
www.numiscorp.com |
FTI Consulting |
|
Richard Sunderland / Andrew Davis / Oliver Parsons |
Tel: +44 (0)20 3727 1000 |
|
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 properties with individual values of less than £15m 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 £15m lot size, regional properties, the Company intends 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 www.custodianreit.com and www.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.