Custodian Property Income REIT PLC - Leicester, England-based real estate investment trust - Disposes of a high street retail unit in Cirencester at auction for GBP720,000, in line with its 31 March valuation.
Richard Shepherd-Cross, managing director of Custodian Capital Ltd, the company’s external fund manager, said: "We were not confident in this asset’s future rental growth prospects and expect to use the sale proceeds to improve the remaining portfolio, which we believe will better support the strategy of providing our shareholders with strong income returns."
Current stock price: 92.71 pence, down 0.1% on Monday morning in London
12-month change: down 10%
By Sophie Rose, Alliance News reporter
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Cust Prop Inc (CREI)