7 October 2016Custodian REIT acquires 36,023 sq ft distribution unit on Cambridge Road Industrial Estate, BedfordCustodian REIT is pleased to announce a further property purchase. The Company has acquired a 36,023 sq ft distribution unit on Cambridge Road Industrial Estate, Bedford, located 11 miles from junction 13 of the M1 and eight miles from the A1. Nearby occupiers include ASDA, Sainsbury’s, Argos, DHL and Fujifilm. The unit is let to Heywood Williams Components Limited on a lease expiring on 7 April 2022. Current passing rent is £234,600 per annum reflecting a net initial yield of 6.78%. The agreed purchase price of £3.25 million was funded from the Company’s existing debt facilities, with net gearing increasing to 23.7% loan to value and £32.0 million now deployed from the Company’s £35.0 million revolving credit facility. Commenting on the acquisition, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s discretionary investment manager), said:
| Latest News02 Oct 2017 Citywire Investment Trust Insider: Custodian captures investors’ attention 18 Jul 2017 Mattioli Woods funds purchase of 14-acre industrial site at Leicester’s Rothley Lodge 10 Mar 2017 World cup rugby ace Catherine’s a winner with Private Investors Club 23 Dec 2016 Custodian REIT acquires a 34,686 sq ft unit on Hanover Street, Liverpool, opposite Liverpool ONE 23 Dec 2016 ![]() |