CUSTODIAN PROPERTY INCOME REIT PLC

Regulatory Filings • Jun 27, 2023

National Storage Mechanism | Additional information

Custodian Property Income REIT plc (CREI)

Custodian Property Income REIT plc: Disposal of Retail Property

27-Jun-2023 / 07:00 GMT/BST

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27 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 an enhanced income return by investing in a diversified portfolio of smaller, regional, core/core-plus properties across the UK, is pleased to announce the disposal of a high street retail unit in Bury St Edmunds at auction for £0.85m, 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: “Having recently increased the lease term by five years but with rent decreasing by 8%, we felt this was the right time to sell as we did not anticipate rents recovering in the medium-term.  We will recycle the sale proceeds into improvements to the remaining portfolio which we believe better aligns to our strategy of providing 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
	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 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 smaller, core/core-plus, 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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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:	MSCH
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.:	253504
EQS News ID:	1665743

End of Announcement	EQS News Service

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