Business
New Leases
New Leases.
About this update from Real Estate Investors Plc
[{"type":"text","content":"\n 2 July 2008\n\n Real Estate Investors plc\n (\"REI\" or the \"Company\")\n\n New Leases\n\nReal Estate Investors plc (AIM: RLE), the West Midlands based property company,\nis pleased to announce that, in the past week, it has concluded further lettings\nwithin its commercial portfolio, which amount to an additional aggregate rental\nincome of over £300,000 per annum.\n\nOccupancy demand continues to be strong and the Company has benefitted from its\nassociation with Bond Wolfe and Bigwood Chartered Surveyors. The Company\nexpects to announce further significant lettings later this month. These\nlettings directly contribute to the Company's net profits and significantly\nenhance capital valuations.\n\nREI is in active discussions regarding further property acquisitions on\nfavourable terms which reflect the current market conditions as well as\ncapitalise upon the Company's cash and bank resources which enable it to\nconclude transactions rapidly.\n\n\n\nEnquiries:\nReal Estate Investors plc +44 (0)121 524 1174\nPaul Bassi\n\nSmith & Williamson Corporate Finance Limited +44 (0)20 7131 4000\nAzhic Basirov / Siobhan Sergeant\n\nNotes to Editors\n\n1. REI is an AIM listed property investment and development company\n specialising in commercial property throughout the Midlands and Central England\n\n2. REI is focused on delivering shareholder value through returns generated\n from strong yields and capital enhancements. This is achieved by targeting\n investments in orphaned, distressed, part-let and underperforming commercial\n property assets\n\n3. REI's Board is led by respected property-entrepreneur Paul Bassi, who has\n over 23 years of property experience. Mr Bassi is also founder and chairman of\n Bond Wolfe Auctioneers, one of the UK's largest (top 50) property auction houses\n and estate agents, and chairman of Bigwood Chartered Surveyors\n\n4. REI was admitted to trading on AIM in June 2004. In December 2006, REI\n successfully raised £25 million to aggressively grow its property portfolio, at\n that time, estimated to be worth approximately £28 million. Paul Bassi is the\n largest shareholder in the Company\n\n5. Further information on REI can be found at www. reiplc.com\n ","length":2411,"tagName":"div"}]