Custodian Property Income REIT is pleased to announce the disposal of an industrial unit in Milton Keynes for €9.36m, representing a 9.5% or £0.7m premium to the 30 September 2023 valuation.
Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s external fund manager), said: “During our nine years of ownership, we were able to generate a healthy and growing level of income from this asset. We made the decision to crystallise a profit for our shareholders and we expect to use the sale proceeds towards repaying the Company’s existing revolving debt facility. This will further reduce our interest costs and allow the Company to fund future improvements to the remaining portfolio.”
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