Real Estate Investors plc, Paul Bassi’s AIM listed property investment vehicle, has announced another letting.

REI, Birmingham’s only publicly-quoted property investment company, has let the ground and first floor accommodation of Hagley Court at 40 Vicarage Road, Edgbaston, Birmingham, to Claimar Care Group plc.

Claimar Care Group plc is a quoted company that provides care and support to enable people of all ages and abilities to be cared for in their own homes.

REI and Claimar have agreed a ten-year lease at a rental of £109,640 per annum with a five year rent review. The total rent receivable for Hagley Court is now £189,759.50.

The latest REI announcement follows on from a highly successful 2008 which saw the proactive and ambitious property company complete a £1.5 million refurbishment programme at Cathedral Place in Waterloo Street, Birmingham, its Grade II listed central city office premises.

The extensive refurbishment, both externally and internally, has created more than 12,000 sq ft of Mayfair-style offices over six floors in the city centre.

Already Caffè Nero has snapped up the ground floor on a15-year letting at £68,000 per annum and the remaining space is attracting strong interest from a number of companies and institutions.

In 2008, among a number of deals and lettings across Birmingham and the West Midlands, REI also purchased a major retail parade in Kings Heath for £4.15 million, 1-27 Bridge Street, Walsall, for £2.4 million and York House in Birmingham city centre for £4 million – all paid for in cash out of a war chest of £100 million the company has available for opportunistic purchases.

Paul Bassi said: “As property investment company with cash to spend, we view 2009 with considerable optimism and remain committed to investing in the area. There are potential investments being brought to us on a daily basis that we are examining with great interest and anticipate announcing further acquisitions shortly.”