Custodian REIT Sells Properties at or Above Book Value

Custodian Property Income REIT plc has announced the sale of two office buildings in Cheadle for a total of £6.9 million. The company's strategy aims to offer strong income returns through diverse investments in UK regional properties.

The 5500 Lakeside property, 66% leased, was sold for £4.0 million, aligning with its December 2024 valuation. Wienerberger House, fully let, was sold at a 10% premium over its valuation, reflecting successful investment decisions since its acquisition in 2016.

Managing Director Richard Shepherd-Cross highlighted the sales reflect strategic timing due to current market conditions, with proceeds earmarked for repaying variable rate debt. This aligns with the company's focus on maximizing income returns for shareholders.