Last checked at 13 Oct 2021 07:00
13 October 2021
Real Estate Investors Plc
("REI" or the "Company" or the "Group")
Portfolio Disposals
Real Estate Investors Plc (AIM:RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT), with a portfolio of 1.5 million sq ft of commercial property across all sectors, is pleased to confirm that it has completed the sales of assets in Bearwood and Pontypool, totalling £5,530,000.
The proceeds generated from these transactions will be used to repay debt with a view to reducing net gearing levels and securing value-add acquisitions to enhance portfolio capital and income growth, which will in turn support the Company's ongoing progressive dividend policy.
Located in the heart of the Midlands region, the business remains well positioned to benefit from regional initiatives and events, in particular HS2 and the impending Commonwealth Games in 2022.
Enquiries:
Real Estate Investors Plc Paul Bassi/Marcus Daly
| +44 (0)121 212 3446 |
Cenkos Securities Katy Birkin/Ben Jeynes
| +44 (0)20 7397 8900 |
Liberum Jamie Richards/William Hall
| +44 (0)20 3100 2000 |
Novella Communications Tim Robertson/Fergus Young |
+44 (0)20 3151 7008
|
About Real Estate Investors Plc
Real Estate Investors Plc is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.5 million sq ft of mixed-use commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors. The Company's strategy is to invest in well located, real estate assets in the established and proven markets across the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier. On 1st January 2015, the Company converted to a REIT. Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities. The Company aims to deliver capital growth and income enhancement from its assets, supporting its progressive dividend policy. Further information on the Company can be found at www.reiplc.com.