6 October 2016Custodian REIT acquires 44,643 sq ft distribution unit on Heartlands Business Park, DaventryCustodian REIT is pleased to announce a further property purchase. The Company has acquired a 44,643 sq ft distribution unit on Heartlands Business Park, Daventry, located within 10 miles of junction 16 of the M1 and the M45. Nearby occupiers include Wincanton, Wetherspoons, Ceva, Netto and Hankook. The unit is let to Cummins Limited on a lease expiring on 15 July 2019. Current passing rent is £221,045 per annum reflecting a net initial yield of 6.75%. The agreed purchase price of £3.08 million was funded from the Company’s existing debt facilities, resulting in net gearing increasing to 23.1% loan to value. Commenting on the acquisition, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s discretionary investment manager), said:
| Latest News12 Jun 2025 Strong operational performance driving earnings growth and portfolio valuation uplift 02 Jun 2025 All-share Acquisition of £22m Property Portfolio 15 May 2025 Disposal of Properties at or above book value 08 May 2025 19 Mar 2025 Presentation: Richard-Shepherd Cross presents at ‘Shares Magazine’ event on 12 March 2025 ![]() |