Custodian Property hails PS1.6 million sale at premium to valuation

Custodian Property Income REIT PLC on Friday said it had sold one of its assets for £1.6 million, an 8% premium to the site’s valuation at the end of March.

The disposal was of a vacant retail property in Guildford, Surrey, Custodian Property said. The Leicester, England-based real estate investment trust focuses on smaller, regional assets and is managed by Custodian Capital Ltd.

‘Having initially considered refurbishing and reletting the asset, strong demand for the site from residential developers became apparent during the initial marketing period,’ explained Richard Shepherd-Cross, Custodian Capital’s managing director.

‘Disposing ahead of valuation to fund improvements to the remaining portfolio was considered more accretive to shareholders.”

Friday’s announcement follows a swing to profit for Custodian Property in financial 2025. The firm posted pretax profit of £38.2 million for the year that ended March 31, compared to a loss of £1.5 million the year prior.

Net asset value was 96.1 pence per share at March 31, up 2.9% from 93.4p a year before, while NAV total return swung to positive 9.5% from negative 0.4% in financial 2024.

Custodian Property shares have continued to trade at a discount to NAV, and were 0.5% lower at 80.99p on Friday morning in London.

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