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Custodian Property Income REIT PLC on Monday said it will keep pursuing opportunities to buy other family-owned portfolios, as Scorpion Properties Ltd performs in line with expectations. The Leicester, England-based investment trust, which focuses on smaller regional UK properties ‘with strong income characteristics’, announced its £8.5 million acquisition of ‘family property company’ Scorpion in early March. Custodian said the Scorpion Portfolio has performed in line with expectations since it completed the transaction. Occupancy has remained at 100%, and its valuation as of March 31 was 3.6% ahead of the purchase price. Custodian noted that it sold Scorpion’s Coventry asset, which it viewed as non-core due to the property’s size. The proceeds were ahead of the valuation at around £400,000, which was about £100,000 higher than the allocated purchase price. ‘Scorpion provided the company with another opportunity to scale the business, via the acquisition of a highly complementary portfolio of industrial assets within the UK’s ’Golden Triangle’ for logistics,’ commented investment manager Custodian Capital Ltd’s Managing Director Richard Shepherd-Cross. ‘The remaining four properties offer significant potential for value creation through capturing latent rental growth at upcoming lease events.’ He continued: ‘In a short space of time, our innovative strategy of achieving growth by utilising our REIT status to acquire privately held portfolios through corporate acquisitions has proved an effective way to achieve scale alongside earnings enhancement. ‘We will continue to pursue further opportunities with family property companies which are facing similar succession and tax issues in the UK.’ Custodian Property shares were 0.6% higher at 89.54 pence on Monday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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