Custodian REIT plc : Purchase of Land with Pre-let Development
("Custodian REIT" or "the Company")
Purchase of Land with
The Company has acquired 0.6 acres of land in
The development will comprise a 2,163 sq ft drive-through coffee shop with 34 parking spaces and construction is being phased over an expected six month build period.
The unit, to be developed by
The land purchase price of
Commenting on the acquisition,
"Demand for drive-through stores continues to show growth, especially in the hot beverage market, and is proving resilient in the face of the COVID-19 pandemic. The location of this property on an arterial access route for
1 Passing rent divided by valuation plus estimated purchaser's costs.
2 Gross borrowings less unrestricted cash divided by last published property portfolio valuation.
For further information, please contact:
Notes to Editors
The Company offers investors the opportunity to access a diversified portfolio of
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Quick facts: Custodian REIT
Market Cap: £370.91 m
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