6 October 2022

Custodian REIT plc

(the “Company” or “Custodian REIT”)

Progression of ESG strategy with appointment of new adviser

Custodian REIT plc (LSE: CREI), which seeks to deliver a strong income return by investing in a diversified portfolio of smaller regional properties across the UK, announces that in line with its ongoing strategy of optimising its environmental, social and governance (“ESG”) performance, it has appointed Jones Lang LaSalle Limited (“JLL”) as its ESG adviser (the “Appointment”) with immediate effect.

JLL is one of the world’s largest investment advisory firms and a market leader in real estate ESG advisory with 90 ESG focused consultants in the UK and over 650 internationally. 

The Board believes the Appointment will enable the Company to accelerate the implementation of its ESG strategy and more effectively achieve its objectives: 

• Improving the energy performance of the Company’s buildings;
• Further reducing energy usage for tenants as well as emissions;
• Understanding and better responding to environmental risks and opportunities;
• Achieving better social outcomes and enhancing support for local communities; and
• Complying with all requirements and reporting in line with best practice where appropriate.

As previously stated, the Board is determined to carefully implement a practical carbon reduction strategy and believes that JLL’s specialist real estate focus will help ensure the Company’s pathway towards net zero carbon aligns with stakeholder expectations and the Company’s property strategy.

Hazel Adam, Chair of the Company’s ESG Committee, said: “We see JLL’s appointment as a crucial next step in the progression of the Company’s ESG strategy, which places positive ESG outcomes at the heart of everything we do, helping drive operational performance and shareholder returns and creating a better, greener future.”

Andrew Baker, Head of Sustainability Consulting at JLL said: “Custodian REIT fully understands the importance of ESG, particularly energy efficiency, in safeguarding its portfolio and the future performance of its assets.  Our goal is now to work hard applying our market leading expertise in this field to help Custodian REIT achieve its ambitions.”

Following the Appointment, Chris Ireland, a Non-Executive Director of the Company and Chairman of JLL, has stepped down from the Company’s ESG Committee.  Chris was not involved in any decisions regarding the Appointment.  This announcement is made in accordance with LR 9.6.11.

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Further information:

Further information regarding the Company can be found by contacting:

Notes to Editors

Custodian Property Income REIT plc is a UK real estate investment trust, which listed on the main market of the London Stock Exchange on 26 March 2014. Its portfolio comprises properties predominantly let to institutional grade tenants on long leases throughout the UK and is principally characterised by properties with individual values of less than £15m at acquisition. 

The Company offers investors the opportunity to access a diversified portfolio of UK commercial real estate through a closed-ended fund.  By principally targeting sub £10m lot-size, regional properties, the Company seeks to provide investors with an attractive level of income with the potential for capital growth. 

Custodian Capital Limited is the discretionary investment manager of the Company. 

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