Custodian REIT plc : Acquisition of Property Portfolio
2 October 2019
Acquisition of Property Portfolio
The Portfolio comprises eight 'last mile' distribution units spread throughout the
The Company acquired the Portfolio by purchasing the entire issued share capital of John Menzies Property 4 Limited which owns the Portfolio. All eight properties are let on new 10 year leases with only one unit having a second-year break option. The leases provide for a 13.1% fixed rental uplift at year five. The Portfolio is let to MDL, one of the
Commenting on the acquisition,
"The Portfolio is strongly aligned to
"Following this transaction, MDL will become
"The corporate transaction offered compelling economic benefits for the Company and the vendor, compared to the Company acquiring the properties directly, demonstrating our commitment to enhance shareholder value and secure economies of scale through growth in the fund."
1 Passing rent divided by purchase price plus purchaser's costs.
2 Gross borrowings less unrestricted cash divided by last published property portfolio valuation.
For further information, please contact:
Notes to Editors
The Company offers investors the opportunity to access a diversified portfolio of
|OAM Categories:||3.1. Additional regulated information required to be disclosed under the laws of a Member State|
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