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Real Estate Investors : RLE – trading update and acquisition

Real Estate Investors has sold Cathedral Place, 42-44 Waterloo Street, Birmingham to Can Like UK for £4.6m. This price equates to an initial yield of 4.1%. They say that other disposals are on the cards.

Real Estate Investors has also updated the market on the position of the company as at 30 June 2014. All of its property is located in and around Birmingham and the whole portfolio totals over 680,000 sq ft. across 47 buildings with 151 tenants. The £20m fund raising they did in March is allowing them to expand the portfolio – they have spent £8.6m so far in 2014 including the potential residential development in Sandwell.

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