21st May 2014 10:54
LONDON (Alliance News) - Real Estate Investors PLC Wednesday said it has added to its property portfolio with the acquisition of three properties, while it has also secured new lettings worth GBP300,000 a year.
The West Midlands-based property investment company bought City Gate House in Leicester for GBP1.8 million, a retail unit let to retailer WH Smith in Worcestershire for GBP500,000, and the former Sandwell College campus in Smethwick, Sandwell for an undisclosed sum.
Real Estate Investors did not name the sellers for the three deals.
"These latest acquisitions bring our spend to GBP8 million plus so far this year," Chief Executive Paul Bassi said in a statement. "We have a number of further acquisitions in our pipeline that should result in over GBP20 million of investments in a range of opportunities that meet our investment criteria.
Real Estate Investors shares were quoted up 1.0% at 50.00 pence Wednesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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