CUSTODIAN PROPERTY INCOME REIT PLC

Regulatory Filings • Aug 16, 2021

National Storage Mechanism | Additional information

Custodian REIT plc (CREI)

Disposal of Property

16-Aug-2021 / 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.

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16 August 2021

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 31,062 sq ft retail warehouse unit in Galashiels for £4.5 million, £1.8 million (67%) ahead of the 30 June 2021 valuation, representing a net initial yield1 of 5.73%.

The property was purchased in May 2017 for £3.1m and has a current weighted average unexpired lease term ("WAULT") of 3.3 years.  Following the disposal, net gearing2 has decreased to 23.7%.

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

"This disposal to a special purchaser crystallises a significant profit on a unit with a relatively short WAULT and provides liquidity to add to the Company's current pipeline of property acquisition opportunities."

1 Passing rent divided by sale price plus estimated purchasers' costs.

2 Gross borrowings less cash (excluding rent deposits and retentions) divided by last published property portfolio valuation.

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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
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 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.

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ISIN:	GB00BJFLFT45
Category Code:	DIS
TIDM:	CREI
LEI Code:	2138001BOD1J5XK1CX76
OAM Categories:	2.2. Inside information
Sequence No.:	119991
EQS News ID:	1226505

End of Announcement	EQS News Service

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