Business
Refurbishment of Cathedral Place
Refurbishment of Cathedral Place.
About this update from Real Estate Investors Plc
[{"type":"text","content":"\n 25 November 2008\n Real Estate Investors plc\n (\"REI\" or the \"Company\")\n\n Refurbishment of Cathedral Place\n\nReal Estate Investors plc (AIM: RLE), the West Midlands based property company,\nis pleased to announce that it has completed the £1.5 million refurbishment\nprogramme at 42-44 Waterloo Street, Birmingham, known as Cathedral Place.\n\nThis boutique, grade II listed building has been refurbished to a high standard,\noffering over 12,000 sq. ft. of offices over 6 floors and has been well received\nby the city property community.\n\nThe offices are located on the corner of Temple Row and Waterloo Street, at the\nhub of the commercial and professional sector in Birmingham's city centre.\n\nCommenting on the refurbishment programme, Paul Bassi, Chief Executive, said,\n\"We are extremely pleased with the outcome of this project and have already\nsecured a 15 year letting to Caffé Nero on the ground floor, at an annual rent\nof £68,000, with the remaining offices generating a considerable amount of\ninterest.\"\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\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":2416,"tagName":"div"}]