Custodian REIT plc : Disposal of Property

Custodian REIT plc (CREI) Custodian REIT plc : Disposal of Property 16-Sep-2019 / 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.     16 September 2019   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 39,279 sq ft city centre office and retail unit in Edinburgh for £9.1 million1, in line with the 30 June 2019 valuation, having acquired the property as part of a portfolio in January 2016.   Following the disposal, net gearing2 has decreased to 21.1%.   Commenting on the disposal Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company's external fund manager), said:   "Following the completion of a refurbishment and various asset management initiatives, which increased the weighted average unexpired lease term to expiry to 8.7 years, we anticipated limited opportunities for future rental growth and believe the disposal proceeds can be redeployed on property with better income and capital growth prospects."   1 Before rent top-ups and cost guarantees relating to vacant space of circa £0.3 million. 2 Gross borrowings less unrestricted cash divided by last published property portfolio valuation.   - Ends -   For further information, please contact:   Custodian Capital Limited   Richard Shepherd-Cross / Nathan Imlach / Ian Mattioli MBE Tel: [phone]   www.custodiancapital.com   Numis Securities Limited   Nathan Brown / Hugh Jonathan Tel: [phone]   www.numiscorp.com   Camarco   Ed Gascoigne-Pees Tel: [phone]   www.camarco.co.uk   Notes to Editors   Custodian REIT plc 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 £10 million 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 £10 million 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.   Â

ISIN:	GB00BJFLFT45
Category Code:	MSCL
TIDM:	CREI
LEI Code:	2138001BOD1J5XK1CX76
OAM Categories:	3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.:	20094
EQS News ID:	873709

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End of Announcement	EQS News Service