Business
Custodian Property Income REIT plc: Disposal ...
Custodian Property Income REIT plc has announced the disposal of an office building in Glasgow for £6.0 million, achieving a 24% premium to its September 30, 2025 valuation. The property, Monteith House, is fully let with an annual passing rent of £0.5 million. The company plans to use the proceeds to repay variable rate debt, supporting its strategy of delivering strong income returns to shareholders. This sale demonstrates the company's ability to sell assets above book valuation and highlights continued demand for well-located office properties. Disclaimer*
About this update from Custodian Property Income Reit Plc
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nCustodian Property Income REIT plc (CREI)\n\n\n\n\n\n\nCustodian Property Income REIT plc: Disposal of Glasgow Offices at a 24% Premium to Valuation 05-Feb-2026 / 07:00 GMT/BST\n\n\n\n \n\n\n \n\n5 February 2026\n\n \n\nCustodian Property Income REIT plc\n\n \n\n(“Custodian Property Income REIT” or the “Company”)\n\n \n\nDisposal of Glasgow Offices at a 24% Premium to Valuation\n\n \n\nCustodian 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 an office building in Glasgow for £6.0m, representing a 24% premium to the 30 September 2025 valuation.\n\n \n\nMonteith House, located on George Square in Glasgow city centre, is fully let to a single tenant with an annual passing rent of £0.5m. The asset was acquired as part of the DRUM Income Plus portfolio acquisition in November 2021.\n\n \n\nCommenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited, said: “We have received a healthy level of income on this property for the period of our ownership. With less than five years remaining on the current lease and some uncertainty regarding renewal with the existing tenant, we believe that without significant capital expenditure, this asset has limited scope for future rental growth. Due to these factors, we felt that now is the right time to sell and crystallise a 24% premium to the 30 September 2025 valuation, demonstrating our ability to complete sales above book valuation, as well as the continued demand for well-located office assets. We expect to use the proceeds to repay variable rate debt, aligning with our strategy of providing shareholders with strong income returns.”\n\n \n\n- Ends -\n\n \n\nFurther information:\n\n \n\nFurther information regarding the Company can be found at the Company's website custodianreit.com or please contact:\n\n \n\n\n Custodian Capital Limited\n \n \n \n \n \n Richard Shepherd-Cross – Managing Director\n\n Ed Moore – Finance Director\n\n Ian Mattioli MBE DL – Chairman\n \n \n Tel: +44 (0)116 240 8740\n \n \n \n \n \n www.custodiancapital.com\n \n \n\n\n Numis Securities Limited\n \n \n &nb...