14 April 2014
REAL ESTATE INVESTORS PLC
(“REI” or the “Company”)
Property Acquisition
Real Estate Investors Plc (AIM: RLE) the West Midlands based property group, announces that it has acquired 33 Bennetts Hill, Birmingham city centre, for the sum of £1.575 million in cash from the receivers GVA, acting on behalf of Royal Bank of Scotland.
The listed landmark building comprises 8,127 sq ft and was formerly the original branch of Midlands Bank. Designed by Thomas Rickman, the building was completed in 1835.
Paul Bassi, Chief Executive, commented, “This historic and unique building is an excellent addition to our growing city centre portfolio. We are already in discussions with a high profile occupier and hope to announce a letting in the near future. Additionally, we are also in legals on numerous acquisitions and new lettings.”
Enquiries:
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Real Estate Investors Plc Paul Bassi
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T: +44 (0)121 265 6400 |
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Smith & Williamson Corporate Finance Limited Azhic Basirov / Siobhan Sergeant
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T: +44 (0)20 7131 4000 |
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Liberum Capital Chris Bowman / Jamie Richards
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T: +44 (0)20 3100 2000 |
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Gable Communications Limited John Bick / Justine James
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T: +44 (0)20 7193 7463 M: +44 (0)7872 061007 |
Notes to Editors
Real Estate Investors is an AIM listed property investment company with a £75.2m (as at 31 December 2013) commercial and residential portfolio principally in the West Midlands and central England.
Real Estate Investors is focussed on delivering shareholder value through returns generated from strong yields and capital enhancements. This is achieved by targeting investments in orphaned, distressed, part-let and underperforming commercial and residential property assets.
Real Estate Investors is led by respected property investor Paul Bassi CBE, who has over 30 years of property experience in the West Midlands. Mr Bassi is also founder and non-executive chairman of Bond Wolfe and non-executive chairman of CP Bigwood Chartered Surveyors. Real Estate Investors was admitted to trading on AIM in June 2004. Further information on Real Estate Investors can be found at www.reiplc.barques.dev.
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