Dow Jones received a payment from EQS/DGAP to publish this press release.

 
 
 Custodian REIT plc (CREI) 
Custodian REIT plc : Purchase of Property 
 
30-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. 
 
            30 July 2018 
 
      Custodian REIT plc 
 
      ("Custodian REIT" or "the Company") 
 
      Purchase of Property 
 
  Custodian REIT (LSE: CREI), the UK property investment company, is pleased 
            to announce two further property purchases. 
 
            Shrewsbury 
 
  The Company has acquired a 19,730 sq ft Audi car dealership on Battlefield 
 Enterprise Park, Shrewsbury's premier motor retail location four miles from 
  the town centre and five miles from the busy A6, linking Shrewsbury to the 
   West Midlands. The unit is occupied by Lancaster plc, part of the Jardine 
            Motors Group, with nearby occupiers including Volkswagen, BMW, 
            Mercedes-Benz, Renault, and Ford. 
 
            Stafford 
 
   The Company also acquired a 23,691 sq ft Audi car dealership in Stafford, 
  two miles from the town centre and within a mile of junction 13 of the M6. 
         The unit is occupied by Swansway Garages, a top-30 franchised motor 
   dealership, with nearby occupiers including Land Rover, Nissan and Arnold 
            Clark. 
 
     Both properties are let to VW Group UK Limited on leases expiring on 20 
    December 2024, with current annual passing rent of GBP197,996 and GBP305,000 
            respectively. 
 
The agreed aggregate purchase price of GBP7.375 million reflects a net initial 
yield1 of 6.38%. The transaction was funded from the Company's existing debt 
     resources, resulting in net gearing2 increasing to 22.0% loan to value. 
 
Commenting on the acquisitions, Richard Shepherd-Cross, Managing Director of 
 Custodian Capital Limited (the Company's discretionary investment manager), 
            said: 
 
     "We are delighted to have secured these two well-established properties 
located within the prime motor retail pitches of their respective locations. 
     Both are let to one of the UK's largest motor retailers and occupied by 
            strong franchised dealers on long-term leases." 
 
       1 Passing rent divided by valuation plus estimated purchasers' costs. 
 
2 Gross borrowings less unrestricted cash divided by last published property 
            portfolio valuation. 
 
      -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, 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 principally characterised by properties 
             with individual values of less than GBP10 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 GBP10 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 [2] and 
            www.custodiancapital.com [1]. 
 
ISIN:           GB00BJFLFT45 
Category Code:  MSCH 
TIDM:           CREI 
OAM Categories: 2.2. Inside information 
                3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   5798 
EQS News ID:    708819 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c24dec6d0ea6c746569ddd52de0eca8d&application_id=708819&site_id=vwd_london&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=44eae66ce326b2005a19503bbab5faed&application_id=708819&site_id=vwd_london&application_name=news

(END) Dow Jones Newswires

July 30, 2018 02:01 ET (06:01 GMT)

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