Custodian REIT plc : Disposal of Property

Custodian REIT plc (CREI)
Custodian REIT plc : Disposal of Property

29-March-2018 / 16:37 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.


 

 

29 March 2018

 

Custodian REIT plc

 

("Custodian REIT" or the "Company")

 

Disposal of Property

 

Custodian REIT (LSE: CREI), the UK property investment company, is pleased to announce the disposal of a property from its portfolio. 

 

The Company has sold a 10,736 sq ft high street retail unit in Hinckley for £0.6 million, in line with the 31 December 2017 valuation.

 

The property was part of the initial portfolio acquired on the Company's admission to the London Stock Exchange in 2014.  The Company intends to use the proceeds from the disposal to fund acquisitions better aligned to its stated investment strategy.

 

Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company's external fund manager), said:

 

"Due to its size, this asset was identified as being non-core within our ongoing strategy.  Over the last year we have extended the lease at the property to enable disposal at the highest possible valuation."

 

- Ends -

 

For further information, please contact:

 

Custodian Capital Limited

 

Richard Shepherd-Cross / Nathan Imlach / Ian Mattioli MBE

Tel: +44 (0)116 240 8740

 

www.custodiancapital.com

 

Numis Securities Limited

 

Nathan Brown / 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 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 on long leases throughout the UK and is principally characterised by properties with individual values of less than £10 million at acquisition. 

 

The Company offers investors the opportunity to access a diversified portfolio of UK commercial real estate through a closed-ended fund.  By targeting sub £10 million 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.

 

 



ISIN: GB00BJFLFT45
Category Code: DIS
TIDM: CREI
Sequence No.: 5349

 
End of Announcement EQS News Service

670681  29-March-2018 

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