Business
Property Letting
Property Letting.
About this update from Real Estate Investors Plc
[{"type":"text","content":"\n 12 September 2007\n Real Estate Investors plc\n (\"REI\" or the \"Company\")\n\n Property letting\n\nReal Estate Investors plc (AIM: RLE), the West Midlands based property company,\nannounced the acquisition of the freehold of 102 - 106 Colmore Row, 1-6\nBennett's Hill in Birmingham City Centre in February 2007. This investment\nproperty was acquired part-let from The Prudential for £6.35 million.\n\nREI has now successfully let office space at Colmore Row to new tenants which\ninclude InvestBX, Bigwood Chartered Surveyors, Weststaff UK Limited and Select\nplc. The total new lettings amount to £164,613 per annum. The Company is\ncurrently negotiating additional lettings which will provide further positive\nuplift to the value of the investment.\n\nIn addition, REI has agreed terms on a major letting for Avon House, the new\ndevelopment in Buntsford Gate, Bromsgrove which the Company acquired in March\n2007. Further details will be announced in due course.\n\nEnquiries:\nReal Estate Investors plc +44 (0)121 524 2588\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\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\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\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\n5. Further information on REI can be found at www. reiplc.com\n ","length":2403,"tagName":"div"}]