Custodian Property Income REIT plc announced the appointment of David MacLellan as an Independent Non-Executive Director of the Company, with effect from 9 May 2023. David will join the Company's Nominations and Management Engagement Committees. The Board anticipates David's appointment as Chair of the Company, with effect from 8 August 2023, following David Hunter's expected retirement at the Company's Annual General Meeting that day.

David MacLellan has over 35 years' experience in private equity and fund management and an established track record as Chair and Non-Executive director of public and private companies. During his executive career David was an Executive Director of Aberdeen Asset Management plc (Aberdeen) following its purchase of Murray Johnstone Limited (MJ) in 2000. At the time of the purchase he was Group Managing Director of MJ, a Glasgow based fund manager managing inter alia closed and open ended funds, having joined MJ's venture capital team in 1984.

Prior to joining MJ he qualified as a Chartered Accountant at Arthur Young McLelland Moores (now EY). David is currently Chair and Managing Partner of RJD Partners (RJD), a private equity business; Non-Executive Director and Audit Committee Chair of J&J Denholm Limited, a family owned business involved in shipping, logistics, seafoods and industrial services; and Non-Executive Director and Audit Committee Chair of Aquila Renewables plc, an investment trust. David is former Chair and Senior Independent Director (SID) of John Laing Infrastructure Fund, a FTSE 250 investment company, former Chair of Stone Technologies Limited, former Chair of Havelock Europa plc and former Non-Executive Director of Maven Income & Growth VCT 2 plc.

He was also Chair of Britannic UK Income Fund for 12 years until 2013 as well as a director of a number of private equity backed businesses.