CUSTODIAN PROPERTY INCOME REIT PLC

Regulatory Filings • Nov 8, 2022

National Storage Mechanism | Additional information

Custodian REIT plc (CREI)

Custodian REIT plc : Custodian REIT sells industrial unit at 12% ahead of June valuation

08-Nov-2022 / 07:00 GMT/BST

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The issuer is solely responsible for the content of this announcement.

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8 November 2022

Custodian REIT plc

(“Custodian REIT” or the “Company”)

Custodian REIT sells industrial unit at 12% ahead of June valuation

Custodian 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 an industrial unit in Kilmarnock at auction for £1.4 million at a 12% premium to its 30 June 2022 valuation.

The environmental credentials of the 18,424 sq ft warehouse and distribution unit no longer fit with the Company’s ESG objectives and it was not considered practical to mitigate these risks.  Having recently increased the lease term by 10 years it was considered the right time to sell and crystallise a valuation uplift.

Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s external fund manager), said: “The sale of this industrial unit at a premium to valuation demonstrates the ongoing liquidity in the market for smaller lot sized commercial real estate, underscoring our investment thesis.  Having acquired this property as part of our IPO portfolio eight years ago and having recently increased the lease term until 2032, we felt that now was an opportune time to crystallise the value we have created.  The proceeds of the disposal will be recycled into identified improvements to the remaining portfolio which we believe will be more accretive and better support the 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 / Ellie Sweeney	Tel: +44 (0)20 3727 1000
	custodianreit@fticonsulting.com

Notes to Editors

Custodian REIT plc is a UK real estate investment trust, listed on the main market of the London Stock Exchange.  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 £15 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 £15 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.

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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.:	199389
EQS News ID:	1481151

End of Announcement	EQS News Service

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