Custodian Property Income REIT plc: Disposal of Retail Property

27 June 2023

Custodian Property Income REIT plc

(Custodian Property Income REIT or the Company)

Disposal of Retail Property

Custodian Property Income REIT (LSE: CREI), which seeks to deliver an enhanced income return by investing in a diversified portfolio of smaller, regional, core/core-plus properties across the UK, is pleased to announce the disposal of a high street retail unit in Bury St Edmunds at auction for £0.85m, in line with the 31 March 2023 valuation. 

Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Companys external fund manager), said: Having recently increased the lease term by five years but with rent decreasing by 8%, we felt this was the right time to sell as we did not anticipate rents recovering in the medium-term.  We will recycle the sale proceeds into improvements to the remaining portfolio which we believe better aligns to our strategy of providing shareholders with strong income returns.

- Ends -

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Notes to Editors

Custodian Property Income 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 throughout the UK and is principally characterised by properties with individual values of less than £15m 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 smaller, core/core-plus, 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 and www.custodiancapital.com.