REI realises £4m with sale of city centre property
A Birmingham city centre office building and pub has been sold in a deal which nets owner Real Estate Investors £4m.
REI said it had moved quickly to take advantage of market conditions by selling 24 Bennetts Hill, which it said was one of its prime Birmingham city centre locations.
The building is occupied on the ground floor by the Sun on the Hill pub.
The AIM-listed business has sold the property to Dunmore, with the sale price representing a 5.9% net initial yield. The investment property was acquired by REI in December ... For the full story register now for free or login below...