13th Nov 2023 13:55
Custodian Property Income REIT PLC - Leicester, England-based real estate investment trust focused on smaller, regional properties - Sells children's day nursery in Chesham, England for GBP550,000 to an undisclosed buyer. Company's portfolio was valued at GBP614.3 million as at June 30.
Richard Shepherd-Cross, managing director of fund manager Custodian Capital Ltd, says: "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."
Current stock price: 87.02 pence, up 0.6% in London on Monday afternoon
12-month change: down 5.00%
By Emma Curzon, Alliance News reporter
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