Reporting its net asset value for the quarter ended 30 September, 2019, on Tuesday, the company - which owns a portfolio of 153 assets focusing on commercial property - said it has agreed terms to fund the development of a drive-through coffee shop in Nottingham.
Since the period ended, Custodian has also acquired eight properties from Menzies Distribution Limited (MDL) for £24.7mln through a sale-and-leaseback deal.
Richard Shepherd-Cross, Custodian's chief executive, said: "We believe a selective approach to acquisitions can still yield investment opportunities in the current market and consider the Company well-positioned with long-term debt facilities and low net gearing to take advantage of opportunities as they arise."
Custodian reported a decline in its property value to £547.2mln, down from £568mln as at 30 June because of the sale of two properties for £15.7mln.
It's net asset value also shrank by around 1% to 104.3p per share, a decrease of 1.7p since 30 June 2019.
The group's long-term debt facilities increased by £15mln to £50mln in the period, coupled with low net gearing.
Custodian is to pay an interim dividend of 1.6625p per share and said it intends to pay quarterly dividends to achieve a target dividend per share for the year ending 31 March 2020 of 6.65p, up from 6.55p in 2019.
Shares were little moved at 115.7p in Tuesday morning trading.