Custodian Property Income REIT Sells Glasgow Office at 24% Premium

Custodian Property Income REIT plc has announced the disposal of an office building in Glasgow for £6.0 million. This transaction marks a 24% premium to the property's valuation as of 30 September 2025. The property, Monteith House, is fully let to a single tenant with an annual rent of £0.5 million.

The office was originally acquired in November 2021 as part of the DRUM Income Plus portfolio. Richard Shepherd-Cross, Managing Director of Custodian Capital Limited, stated the sale decision was influenced by the current lease's approaching expiry and the potential for limited future rental growth.

The proceeds from the sale are intended to repay variable rate debt, in line with the company's strategy of providing strong income returns to shareholders through its diversified UK property investments.