Custodian REIT plc
(“Custodian REIT” or the “Company”)
Disposal of Property
Custodian REIT (LSE: CREI), the UK property investment company, is pleased to announce the disposal of a property from its portfolio.
The Company has sold a 20,424 sq ft town centre retail unit in Dumfries for £1.125 million, in line with the 30 June 2018valuation.
The property was acquired as part of a portfolio in September 2014 and the Company intends to use the proceeds from the disposal to fund acquisitions better aligned to its stated investment strategy.
Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company'sexternal fund manager), said:
“Despite a good location within the town let to a strong tenant, we anticipate minimal opportunities for future rental growthand believe the disposal proceeds can be redeployed on property with better income and capital growth prospects.”
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