Robust performance at Custodian REIT despite retail woes – Custodian REIT saw the value of its portfolio fall slightly in the quarter to the end of June as retail failures took its toll.
The portfolio value stood at £568m, down from £572.7m at the end of March, driven largely by a marked reduction in value of its high street retail assets, which fell by £4m. The estimated rental value of its portfolio was impacted by the CVAs of Paperchase and Cotswold Outdoors during the period.
However, its industrial holdings, which account for 40% of its portfolio by value, saw a £2m uplift in value.
NAV total return per share for the period was 0.5% while NAV per share fell to 106p from 107.1p. The group approved a dividend of 1.6625p per share for the period.
CREI : Robust performance at Custodian REIT despite retail woes