Real Estate Investors PLC
09 May 2005
Real Estate Investors PLC ("REI" or "the Company")
Disposal
REI the commercial property investment company, announces that on 27 April the
Company exchanged conditional contracts to dispose of its leasehold interest in
an A3 leisure investment in London SW11, which is currently let to Pelican Group
Plc trading as Cafe Rouge. The disposal is expected to be completed in early
June.
The property, acquired by REI at the time of its flotation in June 2004, has
been sold for £1,190,000, payable in cash on completion, a surplus over
acquisition price and book cost.
The disposal will release approximately £345,000 of net cash, which will be
utilised in REI's active acquisition programme.
Further information:
Peter Lewin / Malcolm Lewin 01923 776633
Real Estate Investors plc
Christopher Joll/John Evans 020 7491 7776
MJ2 Ltd
This information is provided by RNS
The company news service from the London Stock Exchange