July 17, 2024

Type in the area above to perform a search. Results will appear on the next page
For further information regarding Insider events, please use the contact details below:
T: 0161 907 9758
E: ev**********@ne****.com
Money, and how to make it, is an overriding theme of October’s Insider. It is the month when we reveal the 100 wealthiest business figures here…
Birmingham-based Real Estate Investors (REI) has said the first half of its financial year represented a “stable” period, with the business completing 11 disposals.
The company has posted a revenue of £7.2m for the six months to 30 June 2022, down from £7.8m in the same period of 2021.
Meanwhile, pre-tax profits went from £9m to £8.3m.
Real Estate Investors sold 11 assets during the first half the year totalling £5.7m. However, the business has maintained its portfolio value of £190m.
Chief executive Paul Bassi said: “H1 2022 was a stable period after the challenging years of Brexit and Covid.  Improving occupier demand and sales to a strong private investor market and overseas buyers will provide the foundation for rising valuations and improved rental income and allow us to execute our strategy, whilst remaining open to any sector consolidation opportunities.
“We are mindful of current recessionary concerns, inflation and rising interest rates. Whilst we are not immune to the effects of economic downturns, we are well insulated with fixed and reduced debt, lower LTV, a diverse occupier base plus a healthy WAULT with growing levels of cash to capitalise on any market opportunities. Post period lettings will also add to our revenues going forward, plus the potential for further capital value appreciation.
“We remain focused on delivering maximum value to our shareholders and, subject to the ongoing success of the disposals programme and market conditions, in particular the impact of economic headwinds on the real estate sector and with due consideration being given to any downturn, the board will consider how best to allocate surplus capital including a capital return to our shareholders. 
“Alternatively, if the environment for acquisitions changes markedly by the year end and opportunities offering significant value start to arise, then we may look to make opportunistic acquisitions where there is scope to capture material upside through asset management.”
Real Estate Investors /
Got a property project you’re particularly proud of and want to showcase and/or are you a property business with a lot to shout about? Then why not enter Insider’s West Midlands Property Awards.
Adam Beech, Digital Staff Writer
T: 0161 907 9752
E: ad********@ne****.com
Tracey Bull, Regional Sales Director
T: 0121 214 6560
E: tr*********@ne****.com
T: 0161 907 9711

© Newsco Insider Limited | Registered in England and Wales with Number 02709518 rights reserved
Sitemap | Terms & Conditions | Privacy Policy & Cookies

source

About Author