Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Custodian REIT Sells Four Properties.

Document Cited in Related
Vincent

MANews-(C)2009-2021

UK-based real estate investment trust Custodian REIT (LSE: CREI) has sold four properties from its portfolio, the company said.

The company has sold retail properties at auction in Chester, Scarborough, Bedford and Llandudno for an aggregate GBP 1.6m (USD 2.19m), in line with the most recent valuations.

The properties were originally acquired within larger portfolios in 2014 and 2015.

The Chester unit is currently vacant, the Scarborough and Bedford units are let on three-month rolling leases at below market rents and the Llandudno unit is significantly over-rented with expiry in May 2022.

These disposals have reduced the company's high street retail sector weighting from 11% to 10%.

Custodian REIT is a UK real estate investment trust with a portfolio comprising properties predominantly let to institutional grade tenants throughout the UK, principally characterised by properties with individual...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT