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    CREI   GB00BJFLFT45

CUSTODIAN REIT PLC

(CREI)
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Custodian REIT plc : Disposal of Properties

07/30/2021 | 02:01am EDT
Custodian REIT plc (CREI) 
Custodian REIT plc : Disposal of Properties 
30-Jul-2021 / 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 2021 
 
Custodian REIT plc 
 
("Custodian REIT" or the "Company") 
 
Disposal of Properties 
 
Custodian REIT (LSE: CREI), the UK property investment company, is pleased to announce it has unconditionally exchanged 
on the disposal of a portfolio of properties ("the Portfolio") for GBP23.355 million, with completion due on 29 September 
2021. 
 
The Portfolio comprises five industrial sites in Gateshead, Stockton-on-Tees, Warrington, Stone and Christchurch with a 
current passing rent of GBP1.4 million.  The properties within the Portfolio were acquired either in the seed portfolio 
at IPO or within subsequent portfolio acquisitions. 
 
The agreed sale price of GBP23.355m is GBP4.07m (21%) above the Portfolio's 31 March 2021 valuation and GBP2.13m (10%) above 
the Portfolio's 30 June 2021 valuation and will add 0.5p1 to the 30 June 2021 NAV per share on scheduled completion. 
 
Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company's 
external fund manager), said: 
 
"Investment demand and pricing for industrial assets are both at record levels, so we believe now is the best time to 
sell to capitalise on the current, favourable market dynamics to secure a significant profit. 
 
"While the short-term prospects for the each of the properties in the Portfolio remain robust, over the medium term we 
consider them as non-core assets due to a combination of age, construction, location and site layout limiting future 
rental growth or demanding significant capital expenditure. 
 
"We have agreed a delayed completion to sustain dividend cover while we re-deploy proceeds which we have already begun 
to invest pre-emptively in higher quality assets with greater prospects for income and capital growth, better 
supporting the Board's objective of increasing dividends in a sustainable way." 
 
1 Based on the current issued share capital of 420,603,344 shares. 
 
- Ends - 
 
For further information, please contact: 
 
Custodian Capital Limited 
Richard Shepherd-Cross / Ed Moore / Ian Mattioli MBE Tel: +44 (0)116 240 8740 
                                                     www.custodiancapital.com 
Numis Securities Limited 
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 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 and www.custodiancapital.com. -----------------------------------------------------------------------------------------------------------------------

ISIN:          GB00BJFLFT45 
Category Code: DIS 
TIDM:          CREI 
LEI Code:      2138001BOD1J5XK1CX76 
Sequence No.:  118817 
EQS News ID:   1222880 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------
 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1222880&application_name=news 
 

(END) Dow Jones Newswires

July 30, 2021 02:00 ET (06:00 GMT)

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Sales 2022 38,1 M 52,3 M 52,3 M
Net income 2022 28,3 M 38,8 M 38,8 M
Net cash 2022 144 M 198 M 198 M
P/E ratio 2022 14,4x
Yield 2022 5,60%
Capitalization 405 M 554 M 556 M
EV / Sales 2022 6,86x
EV / Sales 2023 6,69x
Nbr of Employees -
Free-Float 91,1%
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Last Close Price 0,96 
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Managers and Directors
Richard Shepherd-Cross Managing Director
Ed Moore Secretary & Finance Director
David Ian Hunter Independent Non-Executive Chairman
Alex Nix Assistant Manager-Investment
Matthew Wadman John Thorne Senior Independent Director
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