Acquisition of 40 St Paul’s Square
Real Estate Investors Plc (AIM: RLE) the Birmingham based property group has unconditionally exchanged contracts to acquire 40 St Paul’s Square, Birmingham for the sum of £3.75 million.
The 23,269 sq ft modern Grade A office building is situated in the heart of the vibrant Jewellery Quarter District and currently produces a rental income of £399,824p.a.
Occupiers include Willis Group Limited, ISG Regions Limited, BHP Designs (UK) Limited, Coltham Developments Limited and OLR (UK) Limited.
Paul Bassi, Chief Executive commented: “This acquisition is an excellent addition to our City Centre portfolio and is the first of a series of investment acquisitions that we have in our existing pipeline.”