Custodian Property Income REIT plc Sells Castle Donington Property

Custodian Property Income REIT plc has announced the sale of a vacant office unit in Castle Donington for £1.75 million. The sale price is consistent with the property's valuation as of 30 June 2024. This property was originally acquired as part of a portfolio in June 2016.

Richard Shepherd-Cross, Managing Director of Custodian Capital Limited, commented on the sale. He stated that significant refurbishment would have been required to attract a new tenant, making the sale a more cost-effective solution. The proceeds from the sale will be used to repay variable rate debt, fitting with the company's strategy to deliver strong income returns to shareholders.

This transaction highlights ongoing demand for regional assets of smaller lot sizes, especially from owner occupiers.