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About the company
Custodian Property Income REIT plc is a United Kingdom-based real estate investment trust. Its portfolio comprises properties let to institutional grade tenants on long leases throughout the United Kingdom and is principally characterized by properties with individual values of less than £15 million at acquisition. The Company offers investors the opportunity to access a diversified portfolio of United Kingdom commercial real estate through a closed-ended fund. By principally targeting sub £15 million, regional properties, the Company seeks to provide investors with an attractive level of income with the potential for capital growth. The Company's portfolio is diversified by sector, geography and tenants, with low gearing. Its property types include industrial, office, retail, retail warehouse and others. The Company's investment manager is Custodian Capital Limited.
- Revenue in GBP (TTM)44.68m
- Net income in GBP-54.40m
- Incorporated2014
- Employees0.00
- LocationCustodian Property Income REIT plc1 New Walk PlaceLEICESTER LE1 6RUUnited KingdomGBR
- Phone+44 11 6240 8740Fax+44 11 6240 8749
- Websitehttps://custodianreit.com/
Profile
| Management group(s) | Custodian Capital Ltd |
|---|---|
| AIC sector | Property - UK Commercial |
| ISIN | GB00BJFLFT45 |
| Launch date | 26 Mar 2014 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
Objective
To provide shareholders with an attractive level of income together with the potential for capital growth from investing in a diversified portfolio of commercial real estate properties in the UK. To have balanced investment portfolio with a relatively high exposure to industrial and to alternative sectors and low exposure to office and high street retail and low levels of net debt with target net gearing of 25% LTV.
Managed by
| Richard Shepherd-Cross, Alex Nix, Aman Sharma MRICS |
|---|
Management & contract fees
A management fee of 0.9% on the first GBP 200m of NAV; 0.75% of NAV in excess of GBP 200m but below GBP 500m;; 0.65% of the NAV in excess of GBP 500m; 0.55% of the NAV in excess of GBP 750m. The agreement is for an initial term of 3 years, terminable by giving 12 months notice.
Mergers & acquisitions
| Acquired company | CREI:LSE since announced | Transaction value |
|---|---|---|
| abrdn Property Income Trust Ltd | -5.78% | 300.72m |
Peer analysis
| Company | Revenue (TTM) | Net income (TTM) |
|---|---|---|
| Foxtons Group PLC | 147.13m | 5.49m |
| abrdn Property Income Trust Ltd | -74.54m | -91.50m |
| Newriver Reit PLC | 69.90m | -23.50m |
| Triple Point Social Housing REIT PLC | 39.84m | 34.99m |
| Property Franchise Group PLC | 27.28m | 7.40m |
| Helical PLC | 45.61m | -174.84m |
| Home Reit PLC | 26.20m | 47.80m |
| CLS Holdings plc | 148.70m | -249.80m |
| Custodian Property Income Reit PLC | 44.68m | -54.40m |
| Picton Property Income Ltd | 53.49m | -80.52m |
| Mountview Estates P.L.C. | 75.64m | 26.63m |
| Harworth Group PLC | 72.43m | 37.96m |
| PRS Reit PLC | 53.68m | 58.02m |
| Target Healthcare REIT PLC | 67.77m | 58.37m |
Institutional shareholders
| Holder | Shares | % Held |
|---|---|---|
| BlackRock Advisors (UK) Ltd.as of 27 Mar 2024 | 13.07m | 2.97% |
| Legal & General Investment Management Ltd.as of 20 Mar 2024 | 9.36m | 2.12% |
| SSgA Funds Management, Inc.as of 27 Mar 2024 | 6.93m | 1.57% |
| BlackRock Fund Advisorsas of 01 Apr 2024 | 5.71m | 1.30% |
| BlackRock Investment Management (UK) Ltd.as of 01 Apr 2024 | 5.15m | 1.17% |
| Dimensional Fund Advisors LPas of 19 Mar 2024 | 4.86m | 1.10% |
| abrdn Investment Management Ltd.as of 01 Apr 2024 | 3.15m | 0.72% |
| Brewin Dolphin Ltd.as of 27 Mar 2024 | 2.28m | 0.52% |
| Vanguard Global Advisers LLCas of 01 Apr 2024 | 2.16m | 0.49% |
| Hargreaves Lansdown Asset Management Ltd.as of 01 Apr 2024 | 2.15m | 0.49% |
