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Custodian REIT Sells UK Warehouse for GBP 2.8m
Friday 22 May 2020

UK property investment company Custodian REIT (LSE: CREI) has sold a 20,280 sq ft industrial warehouse unit in Westerham for GBP 2.8m (USD 3.39m), the company said.

Custodian said this is GBP 0.5 m (23%) ahead of the 31 March 2020 valuation, representing a net initial yield1 of 4.50%.

The property was purchased in September 2016 for GBP 1.6m as part of a 10 property portfolio. Following the disposal, net gearing has decreased to 22.4%.

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 properties with individual values of less than GBP 10m at acquisition.
Date Published: 22/05/2020