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Custodian REIT plc (CREI)

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Thursday 12 July, 2018

Custodian REIT plc

Custodian REIT plc : Disposal of Property

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

12-Jul-2018 / 07:00 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.


 

 

12 July 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 20,424 sq ft town centre retail unit in Dumfries for £1.125 million, in line with the 30 June 2018 valuation.

 

The property was acquired as part of a portfolio in September 2014 and 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:

 

"Despite a good location within the town let to a strong tenant, we anticipate minimal opportunities for future rental growth and believe the disposal proceeds can be redeployed on property with better income and capital growth prospects."

 

- 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 with a portfolio comprising properties predominantly let to institutional grade tenants throughout the UK, principally characterised by properties with individual values of less than £10m 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 £10m 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.

 

 



ISIN: GB00BJFLFT45
Category Code: MSCH
TIDM: CREI
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 5739
EQS News ID: 703753

 
End of Announcement EQS News Service

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