Custodian REIT (CREI) is a London Main Market-listed REIT focused on commercial property in the UK outside London. It has a strong income focus, with a commitment to pay a high but sustainable and covered dividend. To this end, it targets a balanced portfolio, with a focus on smaller lot sizes of less than £10m. Fully covered dividends paid since the IPO in 2014 represent more than 70% of the NAV total return, a compound 7.3% pa.
In this interview, Richard Shepherd-Cross, managing director of Custodian Capital, the company’s asset manager, discusses the recent interim results, portfolio developments and prospects.