12 July 2018

 

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 20,424 sq ft town centre retail unit in Dumfries for £1.125 million, in line with the 30 June 2018 valuation.

 

The property was acquired as part of a portfolio in September 2014 and the Company intends to use the proceeds from the disposal to fund acquisitions better aligned to its stated investment strategy.

 

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

 

"Despite a good location within the town let to a strong tenant, we anticipate minimal opportunities for future rental growth and believe the disposal proceeds can be redeployed on property with better income and capital growth prospects."

 

- Ends -

 

For further information, please contact:

 

Custodian Capital Limited
Richard Shepherd-Cross / Nathan Imlach / 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 with a portfolio comprising properties predominantly let to institutional grade tenants throughout the UK, 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 £10m lot size regional properties, the Company intends to provide investors with an attractive level of income and the potential for capital growth, becoming the REIT of choice for private and institutional investors seeking high and stable dividends from well-diversified UK real estate. 

 

Custodian Capital Limited is the discretionary investment manager of the Company. 

 

For more information visit www.custodianreit.com and www.custodiancapital.com.