logo-loader
RNS
viewCustodian REIT

Purchase of Property

/**/ SUP { FONT-SIZE: 80% } LINK { COLOR: blue } visited { COLOR: purple } .ae { MARGIN: 34pt 55.3pt 15.05pt 2cm; size: 21.0cm 842.0pt } DIV.ae { } TD.bb { PADDING-BOTTOM: 0cm; PADDING-LEFT: 9.05pt; PADDING-RIGHT: 9.05pt; PADDING-TOP: 0cm } P.d { MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Univers Condensed","sans-serif"; FONT-SIZE: 11.5pt } LI.d { MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Univers Condensed","sans-serif"; FONT-SIZE: 11.5pt } DIV.d { MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Univers Condensed","sans-serif"; FONT-SIZE: 11.5pt } P.bd { TEXT-ALIGN: center; LINE-HEIGHT: 150%; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt } SPAN.ba { LINE-HEIGHT: 150%; FONT-FAMILY: "Arial","sans-serif"; FONT-SIZE: 10.5pt } P.be { TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt } P.bf { TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt } P.bg { TEXT-ALIGN: center; LINE-HEIGHT: 150%; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt; FONT-WEIGHT: bold } SPAN.au { LINE-HEIGHT: 150%; FONT-FAMILY: "Arial","sans-serif"; FONT-SIZE: 10.5pt } SPAN.g { FONT-FAMILY: "Times New Roman","serif"; VERTICAL-ALIGN: baseline } SPAN.av { LINE-HEIGHT: 150%; FONT-FAMILY: "Arial","sans-serif" } SPAN.at { LINE-HEIGHT: 150%; FONT-FAMILY: "Arial","sans-serif"; FONT-SIZE: 10.5pt } SPAN.as { LINE-HEIGHT: 150%; FONT-FAMILY: "Arial","sans-serif"; FONT-SIZE: 9pt } SPAN.ar { LINE-HEIGHT: 150%; FONT-SIZE: 9pt } SPAN.aq { LINE-HEIGHT: 150%; FONT-FAMILY: "Arial","sans-serif"; FONT-SIZE: 9pt } P.bh { MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt; FONT-WEIGHT: bold } SPAN.ap { FONT-FAMILY: "Arial","sans-serif"; FONT-SIZE: 10.5pt } P.bi { LINE-HEIGHT: 150%; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt } TABLE.bj { BORDER-COLLAPSE: collapse; MARGIN-LEFT: -5.4pt } TD.al { PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; WIDTH: 286.9pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm } P.bk { TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt; FONT-WEIGHT: bold } TD.ak { PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; WIDTH: 180.55pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm } TD.ah { PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; WIDTH: 246.6pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm } P.bl { LINE-HEIGHT: 150%; MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt; FONT-WEIGHT: bold } TD.ag { PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; WIDTH: 220.85pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm } SPAN.bm { LINE-HEIGHT: 150%; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue; FONT-SIZE: 10.5pt; TEXT-DECORATION: underline } P.a { MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt } LI.a { MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt } DIV.a { MARGIN: 0cm 0cm 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt } /**/
RNS Number : 4738S
Custodian REIT PLC
03 October 2017
 

 

 

3 October 2017

 

Custodian REIT plc

 

("Custodian REIT" or the "Company")

 

Purchase of Property

 

Custodian REIT (LSE: CREI), the UK property investment company, is pleased to announce a further property purchase. 

 

The Company has acquired a 43,370 sq ft distribution unit on Houston Industrial Estate, Livingston, one of the most established industrial centres in Scotland at junction three of the M8, 15 miles from Edinburgh and 30 miles from Glasgow.  Nearby occupiers include Booker, Iceland and Hays.

 

The unit is let to A Share & Sons Limited (trading as SCS) on a lease expiring on 2 October 2022.  The agreed purchase price reflects a net initial yield1 of 7.5%, subject to agreement of an ongoing rent review.

 

The agreed purchase price of £2.59 million was funded from the Company's existing debt facilities, resulting in net gearing2 increasing to 19.4% loan to value.

 

Commenting on the acquisition, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company's discretionary investment manager), said:

 

"We are delighted to have secured this unit located on one of Scotland's prime distribution parks and let to a market leading retailer.  The unit is SCS's only distribution location in Scotland and the tenant is committed to the site."

 

1 Passing rent divided by purchase price plus assumed purchasers' costs.

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: +44 (0)116 240 8740


www.custodiancapital.com

 

Numis Securities Limited


Hugh Jonathan/Nathan Brown

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 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 on long leases throughout the UK and is characterised by small lot sizes, with individual property 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 targeting smaller lot size 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.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQUGGPUUUPMGQP

Quick facts: Custodian REIT

Price: 117

Market: LSE
Market Cap: £478.77 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Custodian REIT reports robust quarterly update - Capital Network analyst

Capital Network's Ed Stacey gives his view on Custodian REIT's (LON:CREI) latest quarterly net asset value (NAV) update. The release shows a NAV of £426.6mln, unchanged versus December 2018, and NAV total return per share of 5.9%. Occupancy remains high at 95.9%. Custodian now...

on 1/5/19