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Last checked at 
6 Dec 2013 07:00
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6 December 2013
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Real Estate Investors plc
("REI" or the "Company")
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Property Disposal
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Real Estate Investors Plc (RLE), the West Midlands based property group, confirms that it has sold Units 1, 2 and 3 at Southgate Retail Park, Derby, to T E Beteiligungs GmbH (the parent company of Lidl) for the sum of Β£4.25 million. The remaining five units have been retained and are either let or under offer with an ERV of Β£250,000 p.a.
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REI purchased Southgate Retail Park for Β£4.8 million in September 2011.
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Paul Bassi, Chief Executive, commented "This is an excellent disposal significantly above our book valuation, demonstrating the growing appetite from investors and occupiers for regional assets."
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For further information:
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Real Estate Investors Paul Bassi | Β +44 (0)121 265 6400 Β |
Smith & Williamson Corporate Finance Limited Azhic Basirov / Siobhan Sergeant Β | Β +44 (0)20 7131 4000 |
Liberum Capital Chris Bowman / Richard Bootle | Β +44 (0)20 3100 2000 Β |
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Notes to Editors
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REI is an AIM listed property investment company with a Β£76.8m (as at 30 June 2013) commercial and residential portfolio principally in the West Midlands and central England.
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REI is focused on delivering shareholder value through returns generated from strong yields and capital enhancements. This is achieved by targeting investments in orphaned, distressed, part-let and underperforming commercial and residential property assets.
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REI is led by respected property investor Paul Bassi CBE, who has over 30 years of property experience in the West Midlands. Mr Bassi is also founder and non-executive chairman of Bond Wolfe and non-executive chairman of CP Bigwood Chartered Surveyors. REI was admitted to trading on AIM in June 2004. Further information on REI can be found at www.reiplc.com.
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