Custodian Property Income REIT plc: Disposal of Property
Custodian Property Income REIT plc (CREI)
13 November 2023
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 the disposal of a children’s day nursery in Chesham for £0.55m, in line with the 30 September 2023 valuation.
Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s external fund manager), said: “This asset was considered sub-scale and no longer aligned with the strategy of the Company. Following a recent lease renewal the property had a 13 year unexpired lease term and now was felt the optimum time to sell. We expect to use the sale proceeds to fund improvements in the remaining portfolio, which we believe will better support the strategy of providing our shareholders with strong income returns.”
- Ends -
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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.
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