‘Confident’ Leicester property investment company sees profits rise

Custodian REIT, the Leicester-based commercial real estate investment company, has reported a 34% increase in its profits for the year-ending 31 March.

The firm made a £32.4m profit last year, up from £24.2m in 2017, while its portfolio value rose from £418.5m to £528.9m.

David Hunter, chairman of Custodian REIT, said: “We believe a well-defined investment strategy that offers secure income and focuses on long-term goals and deliverable targets will protect shareholders from market volatility.

“The strength of the occupational market represents an exciting opportunity and rental growth at lease renewal and rent review remains robust. We are confident we can maintain occupancy levels, which in turn will sustain our policy of paying a growing and fully-covered dividend to shareholders.”