Custodian Property Income REIT PLC - real estate investment trust focused on UK commercial property - Sells vacant car showroom in Redhill, Surrey for about GBP2.4 million, a 15% premium to the December 31 valuation. Managing Director Richard Shepherd-Cross says: "Having initially considered refurbishing and reletting the asset, strong demand for the site from residential developers became apparent during the marketing period and disposing ahead of valuation to fund improvements to the remaining portfolio was deemed more accretive to shareholders."
Current stock price: 80.60 pence each, 1.3% higher on Wednesday morning in London
12-month change: down 12%
By Tom Budszus, Alliance News slot editor
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Cust Prop Inc (CREI)