16th Jul 2014 10:04
LONDON (Alliance News) - Custodian REIT PLC Wednesday said it has acquired eight high street retail units and one trade counter unit, including six freeholds and three long-leasehold titles, for GBP17.4 million.
The company did not name the sellers.
Custodian said it completed the purchase of seven of the properties and exchanged on a further two, subject to securing landlord consent to the assignment of the long-leasehold interests.
Tenants within the portfolio, which currently generates net income of GBP1.3 million, include JD Wetherspoon PLC and Poundland PLC.
Custodian REIT has been active in the market since its initial public offering in March and last week it acquired a new 12,940 square foot industrial unit in Castleford for GBP1.6 million. This latest acquisition brings the total funds invested following Custodian's IPO to GBP34.7 million.
Custodian REIT shares were quoted at 112.00 pence per share, untraded Wednesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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