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Disposal of business park office property for Â...
Disposal of business park office property for Â....
About this update from Custodian Property Income Reit Plc
[{"type":"text","content":"\n \n\n\nCustodian REIT plc (CREI)\n\n\n\nCustodian REIT plc : Disposal of business park office property for £2.8m30-Nov-2022 / 07:00 GMT/BSTDissemination 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.\n\n\n\n \n\n\n \n\n30 November 2022\n\n \n\nCustodian REIT plc\n\n \n\n(“Custodian REIT” or the “Company”)\n\n \n\nDisposal of business park office property for £2.8m\n\n \n\nCustodian 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 16,941 sq ft office property in Leicester for £2.8m, in line with the most recent valuation.\n\n \n\nCommenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s external fund manager), said:\n\n \n\n“This asset was acquired as part of the Company’s IPO portfolio in 2014. It has been fully let since, delivering an average yield of 9% per annum but has seen no rental or valuation growth over our period of ownership and this trend is expected to continue. We expect to invest the sale proceeds in the Company’s remaining assets which have greater prospects for income and capital growth, better supporting the Board’s objective of increasing dividends in a sustainable way and enhancing the portfolio’s environmental credentials.”\n\n \n\n- Ends -\n\n \n\nFor further information, please contact:\n\n \n\n\n Custodian Capital Limited\n \n \n \n \n \n Richard Shepherd-Cross / Ed Moore / Ian Mattioli MBE\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 \n \n \n Hugh Jonathan\n \n \n Tel: +44 (0)20 7260 1000\n \n \n \n \n \n www.numiscorp.com\n \n \n\n\n FTI Consulting\n \n \n \n \n \n Richard Sunderland / Ellie Sweeney \n \n \n Tel: +44 (0)20 3727 1000\n \n \n \n \n \n [email protected]\n \n \n\nNotes to Editors\n\n \n\nCustodian REIT is a UK real estate investment trust with a portfolio comprising properties predominantly let to institutional...