Disposal of Property

Custodian Property Income REIT (LSE: CREI), which seeks to deliver a strong income return by investing in a diversified portfolio of smaller regional properties across the UK, is pleased to announce the disposal of a children’s day nursery in Chesham for £0.55m, in line with the 30 September 2023 valuation.

Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s external fund manager), said: “This asset was considered sub-scale and no longer aligned with the strategy of the Company. Following a recent lease renewal the property had a 13 year unexpired lease term and now was felt the optimum time to sell. We expect to use the sale proceeds to fund improvements in the remaining portfolio, which we believe will better support the strategy of providing our shareholders with strong income returns.”