29 June 2015
REAL ESTATE INVESTORS PLC
("REI" or the "Company")
Property Sales Update
Real Estate Investors Plc (AIM: RLE), the Birmingham based Real Estate Investment Trust, announces that it has sold properties to the value of £9.525 million. These sales include: 85/89 Colmore Row (Birmingham) £7.850m; 770-772 Bristol Road (Northfield) £1.425m; and 150 Birmingham Road (West Bromwich) £250,000.
Paul Bassi, Chief Executive of REI, commented:
"We have completed our asset management on these properties and have made sales at values significantly above our cost and book value, which is in accordance with our strategy. Our acquisition pipeline remains positive and we are experiencing increased occupier demand across our portfolio."
Enquiries:
Real Estate Investors Plc |
|
Paul Bassi |
T: +44 (0)121 265 6400 |
Smith & Williamson Corporate Finance Limited (Nominated Adviser) |
Azhic Basirov / David Jones |
T: +44 (0)20 7131 4000 |
Liberum Capital (Broker) |
Tom Fyson / Jamie Richards |
T: +44 (0)20 3100 2000 |
Gable Communications Limited |
T: +44 (0)20 7193 7463 |
John Bick |
M: +44 (0)7872 061007 E: [email protected] |
About Real Estate Investors Plc
Real Estate Investors Plc is a publicly quoted property investment company with a portfolio of over £100 million in commercial properties managed by a highly experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.
The Company's strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier.
On 1st January 2015, the Company converted to a Real Estate Investment Trust (REIT). Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities.
The Company aims to deliver capital growth and income enhancement from its assets with the view to implementing a progressive dividend policy. Further information on the Company can be found at www.reiplc.com.
