Custodian REIT PLC - real estate investment trust - On Monday reported the disposal of a property from its portfolio. Sells a 31,062 square feet retail warehouse unit in Galashiels for GBP4.5 million, 67% ahead of the June 30 valuation, representing a net initial yield of 5.7%.
"This disposal to a special purchaser crystallises a significant profit on a unit with a relatively short weighted average unexpired lease and provides liquidity to add to the company's current pipeline of property acquisition opportunities," says Managing Director Richard Shepherd-Cross.
Current stock price: 102.80 pence
Year-to-date change: up 17%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Cust Prop Inc (CREI)