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Custodian REIT buys Derby industrial units

Custodian REIT to reduce dividend as rent receipts fall

Custodian REIT buys Derby industrial units – Custodian REIT has acquired four industrial units covering an aggregate 23,250 sq ft on Hilton Business Park, Derby, one mile from the A50 which connects the M1 and M6. The units are occupied by M P Bio Science, Shakespeare Pharma and Jangala Softplay with a weighted average unexpired term to first break or expiry of 2.0 years.

The units have an aggregate passing rent of £134,065 per annum, reflecting a net initial yield1 of 6.39%.

The agreed purchase price of £1.975m was funded from the company’s existing cash resources, resulting in net gearing increasing to 24.1% loan to value.

CREI : Custodian REIT buys Derby industrial units

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