CUSTODIAN PROPERTY INCOME REIT PLC

Report Publication Announcement • Jan 31, 2023

National Storage Mechanism | Additional information

Custodian Property Income REIT plc (CREI)

Custodian Property Income REIT plc: Custodian Property Income REIT sells retail unit 35% ahead of valuation

31-Jan-2023 / 07:00 GMT/BST

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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31 January 2023

Custodian Property Income REIT plc

(“Custodian Property Income REIT” or the “Company”)

Custodian Property Income REIT sells retail unit 35% ahead of valuation

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 high street retail unit in Bury St Edmunds at auction for £0.54m, £0.14m (35%) ahead of 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 annual rent decreasing from £53k to £40k, now was the right time to sell and crystallise a valuation uplift.  We did not anticipate rents recovering and this disposal continues our planned programme of selling non-prime high street retail assets.  We expect to recycle the sale proceeds into improvements to the remaining portfolio which we believe will better support the strategy of providing our shareholders with strong income returns.”

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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
Hugh Jonathan / Nathan Brown	Tel: +44 (0)20 7260 1000
	www.numiscorp.com

FTI Consulting
Richard Sunderland / Ellie Sweeney / Andrew Davis	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 £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 £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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ISIN:	GB00BJFLFT45
Category Code:	MSCH
TIDM:	CREI
LEI Code:	2138001BOD1J5XK1CX76
Sequence No.:	219434
EQS News ID:	1546995

End of Announcement	EQS News Service

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