Custodian REIT plc : Disposal of Property (703753)
July 12 2018 - 2:01AM
UK Regulatory
Dow Jones received a payment from EQS/DGAP to publish this press
release.
Custodian REIT plc (CREI)
Custodian REIT plc : Disposal of Property
12-Jul-2018 / 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.
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
GBP1.125 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 Tel: +44 (0)116 240 8740
Imlach / Ian Mattioli MBE
www.custodiancapital.com [1]
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 GBP10m 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 GBP10m 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 [2] and
www.custodiancapital.com [1].
ISIN: GB00BJFLFT45
Category Code: MSCH
TIDM: CREI
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 5739
EQS News ID: 703753
End of Announcement EQS News Service
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c24dec6d0ea6c746569ddd52de0eca8d&application_id=703753&site_id=vwd_london&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=44eae66ce326b2005a19503bbab5faed&application_id=703753&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
July 12, 2018 02:01 ET (06:01 GMT)
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