Custodian Property Income REIT plc Announces Successful Disposal of Property

Custodian Property Income REIT (CREI), known for its investment in a diversified portfolio of smaller regional properties across the UK, has successfully completed the sale of a vacant car showroom located in Redhill. The property was sold for £2.35 million, securing a 15% premium over its valuation as of 31 December 2023. This positive outcome highlights the company's strategic decision-making and effective asset management capabilities.

The disposal came after reconsideration of the initial plan to refurbish and relet the property. With emerging strong demand from residential developers during the marketing phase, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited, the Company’s external fund manager, stated that selling the property above its valuation to fund enhancements in their remaining portfolio added more value to their shareholders. This move demonstrates the Company's adaptability and proactive approach in optimizing its asset portfolio.