Custodian REIT Sells Car Showroom in Derby, UK.

MANews-(C)2009-2022

UK-based investment company Custodian REIT (LSE: CREI) has sold a property from its portfolio, the company said.

The company has sold a 24,178 sq ft car showroom in Derby let to Volkswagen for GBP 5.6m (USD 6.90m), GBP 1.2m ahead of the 31 March 2022 valuation, representing a net initial yield1 of 5.7%.

Following the disposal, net gearing has decreased to 20.5%.

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 principally characterised by properties with individual values of less than GBP...

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