Business
Property Sales Update and Notice of Results
Property Sales Update and Notice of Results.
About this update from Real Estate Investors Plc
[{"type":"text","content":"\n \nRNS Number : 1942Y Real Estate Investors PLC 07 September 2015 \n\n7 September 2015\n \nREAL ESTATE INVESTORS PLC\n(\"REI\" or the \"Company\")\n \nProperty Sales Update and Notice of Results\n \nReal Estate Investors Plc (AIM: RLE), the Birmingham based Real Estate Investment Trust, announces that in addition to previously reported sales in 2015, totalling £12.0 million, it has sold further properties from its non-core portfolio, producing further capital receipts to the Company of £4.0 million. These sales comprise a property in Surrey for £2.5 million and a property in Watford for £1.5 million, both of which are located outside of the Company's core markets of central Birmingham and the Midlands. Both sales were made at levels above the Company's book values.\n \nThe Company plans to release Half Year results for the six months ended 30 June on 16 September 2015. \n \nPaul Bassi, Chief Executive of REI, commented: \"These recent sales are debt free and non-core. The capital receipts will provide additional funds to capture criteria compliant property in our current pipeline of acquisitions, where we have over £20 million of new purchases under offer or in legal process. In line with our strategy, we remain on track to grow our portfolio to in excess of £200 million within the next six months.\"\n \nEnquiries:\n \n\n\n\n\nReal Estate Investors Plc\n\n\n\n\n\n\n\nPaul Bassi\n \n\n\nT: +44 (0)121 265 6400\n\n\n\n\nSmith & Williamson Corporate Finance Limited (Nominated Adviser)\n\n\n\n\nAzhic Basirov / David Jones\n \n\n\nT: +44 (0)20 7131 4000\n\n\n\n\nLiberum Capital (Broker)\n\n\n\n\nTom Fyson / Jamie Richards\n \n\n\nT: +44 (0)20 3100 2000\n\n\n\n\nGable Communications Limited\n\n\nT: +44 (0)20 7193 7463\n\n\n\n\nJohn Bick\n \n\n\nM: +44 (0)7872 061007\nE: [email protected]\n\n\n\n\n \n \nAbout Real Estate Investors Plc\n \nReal 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.\n \nThe Company's strategy is to invest in well located, real estate assets in the established an...