Principle expands customer service department by 50% by appointing two new staff

Two new staff were appointed on the same day in a move that saw Principle Estate Management’s customer service department grow from four to six team members.

Sophie May has taken on the role of a customer services executive at the Birmingham-based company, while Kiera Hall has joined as a property apprentice.

Ms May, from Sheldon in Birmingham, had spent 18 months as a senior property assistant with a competing estate management company, and before that had four years of customer-facing experience in children’s care, retail and hair salons.

Ms Hall, from Great Barr in Birmingham, has had two years of experience working in customer-facing roles for a leading high street chemists.

Michelle Cox, customer services manager at Principle, said: “We’re delighted to welcome both Sophie and Kiera onto our team.

“We knew we needed to expand the customer service department to meet the increased growth of the business, and both Sophie and Kiera stood out as the ‘right people’ during the recruitment process.

“Sophie’s previous experience in the property sector made her ideal, plus she’s also had customer-facing experience in retail which is valuable as our customer service team is often the first point of contact for both customers and contractors.

“Kiera’s experience in retail also made her ideal to start as an apprentice, and we were pleased to recruit her via the Protocol Group in Birmingham, which has previously successfully found two other apprentices for us.

“It was essential to find people with the right experience so that we continue to provide a great service to our customers, and we are sure both Sophie and Kiera will do well in their new roles.”

Ms Cox added: “These appointments have enabled us to pair all of our six property managers with an experienced customer services executive, each with a dedicated apprentice.

“We can see this structure working really well and enabling our people to get a really good working knowledge of their allocated properties together with specific client and customer requirements.”

Ms May said: “Property management is my chosen profession and I had heard great things about how successful Principle is from a couple of people I knew who worked there.

“I was delighted when I was offered the job and can already see that it is a supportive environment where I will be able to thrive.”

Ms Hall, who is studying for a NVQ in Customer Service, said: “I have been with Principle for a couple of weeks now and I’m really enjoying it. Everyone is really friendly and helpful.

“I have had a lot of training already so that I understand the basics and am looking forward to learning more.”

Principle was launched in 2018 by Brett Williams, a past-chairman of the Association of Residential Managing Agents who has nearly 30 years of experience in the sector.

The Birmingham-based company has grown from what was virtually a one-man band two-and-a-half years ago into what is now 28 staff looking after a portfolio approaching 6,500 units in around 250 developments across the UK.

Ends (505 words)

For further information please contact:

Brett Williams,

Principle Estate Management LLP, 137 Newhall Street, Birmingham B3 1SF

Tel: 07954 078711 / 0121 289 4315

Email: BWilliams@PrincipleEstate.co.uk

www.PrincipleEstate.co.uk

https://twitter.com/PrincipleEM

https://www.linkedin.com/company/principle-estate-management/

https://www.facebook.com/PrincipleEstateManagement/

Editors’ notes:

Principle is a customer-focused managing agent providing a transparent property management service to the highest standards nationwide, focusing particularly on the management of apartment buildings. Principle Estate Management, based in Birmingham, launched in Spring 2018 and is led by experienced chartered surveyors. The business was born out of a passion for “doing it right” through a director-led, friendly approach combined with robust systems that maximize efficiency. Principle provides a service that sets the aspirational standard for other agents. The company manages modern apartment buildings, traditional blocks of flats, mixed use developments, private housing estates and private rented sector (PRS) or build-to-rent (BTR) developments, as well as portfolios of rented properties for residential or commercial landlords.

Sales growth prompts move for Midlands engineering company after property agents John Truslove secure bigger premises

A West Midlands firm specialising in repairs, spares and sales of Mazak machining equipment has seen surging demand for its services from around the world, prompting a move to new premises enabled by commercial property agents John Truslove.

Stuart Vann and his three-strong team at Maz Service & Repair Ltd have seen business soaring by nearly 50 per cent this year, with working coming from as far afield as California, Turkey, Egypt and Australia.

As a result, the Worcestershire-based company approached agents John Truslove to find bigger premises.

Stuart Vann said: “Ian Parker at John Truslove listened to what we needed and suggested a site that wasn’t even on our radar. He took us there and as soon as we saw it, we realised it was perfect for our needs, with a much bigger sales area.”

The company has now moved into the 4,817 sq ft unit at 26 Dunlop Road, on the Hunt End industrial estate in Redditch, on a five year lease at £31,300 per annum.

Now Mr Vann and his team are wasting no time making use of their extra space.

“It’s about twice the size of our previous premises. As things traditionally slow down in December we are gearing up to make the best us of the space, including some marketing video using drones to get overhead views of all the machines in operation.

“We have used video as a marketing tool during the Covid-19 pandemic but normally people will travel from all over the country, see the machines in operation and seal the deal there and then. They are that impressive.”

Stuart Vann launched the business 20 years ago, offering servicing and sales of the renowned Mazak machining centres as well as CNC and XYZCAM routers – computer controlled machines which use a high speed rotating cutter to produce shapes in wood and plastics for UPVC windows, theatre sets and leisure and shop fitting industries.

The firm also specialises in Mazak drive repairs and supplies of spares – the side of the business that has seen dramatic overseas growth as Maz Service & Repair’s reputation for quality work has spread.

Ian Parker, joint managing director at John Truslove, said: “When Stuart came to see us it rapidly became clear to me that the unit at Dunlop Road would be ideal for their purposes. As the premier commercial property agent in this area we have an unrivalled portfolio of industrial and office premises that will suit any company – our skill is in matching the right tenant with the right premises and the right landlord, which is exactly what we did in this case.

“We look forward to seeing Maz Service & Repair continue to grow and flourish.”

Solicitors Wilkes Partnership, in Shirley, Solihull, acted for Maz Service & Repair in the lease negotiations.

Redditch-based chartered surveyors and valuers John Truslove was recently named Most Active Agent in Worcestershire in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine.

Joint managing director Ian Parker was also named Worcestershire Dealmaker of the Year AND Warwickshire Dealmaker of the Year for 2020. The survey year, which runs from August to August, saw John Truslove record a 36% increase in deals negotiated over the 12 months.

Ends (554 words)

For more information, contact:

John Truslove, Daralbee House, Archer Road, Redditch, B98 8DJ

01527 584242

Issued by Andy Skinner of ASAP PR, 01608 651203, mobile 07990 978257.

First unit sold in Grade II-listed development in Birmingham’s Jewellery Quarter

The first unit in a luxury residential conversion of a Grade II-listed building in Birmingham’s Jewellery Quarter has been sold in a deal arranged by Davidson Estates.

The estate and lettings agency has already completed on the two-bedroomed apartment in the £4.7 million Sydenham Place development at 26 Tenby Street.

Sydenham Place consists of a pair of three-bedroomed duplex apartments, three two-bedroomed apartments, and a large, executive one-bedroomed apartment. There are also three town houses, each with three bedrooms, with four offices on the ground and lower-ground floors.

The high-quality units in the Urban Rise Developments project range from £299,995 to £599,995 and are being marketed by joint agents, although Davidson Estates is the first to arrange and complete a sale.

Ben Davidson, director of Edgbaston-based Davidson Estates, which has a busy branch office in the city centre, said: “Sydenham Place is a stunning development and we’ve been busy handling a number of keen enquiries from potential buyers.

“We’re delighted to have got the first sale over the line and are now looking forward to selling and completing on the other units.”

Andrew Chan and Israr Iqbal, co-founders and directors of Urban Rise Developments, said: “We’re thrilled to have got the sales and completions of Sydenham Place off the mark and are very grateful to Davidson Estates for their hard work.

“We knew this gated mix of old and new properties with guaranteed parking spaces in such a prime Jewellery Quarter location would be very popular, and we look forward to reporting on more sales soon.”

Construction on phase one of Sydenham Place is due to complete by the end of this month, with phase two scheduled for completion by Spring 2021.

The development is a short walk from the Jewellery Quarter’s vibrant St Paul’s Square, just 15-minutes from Colmore Row and 20-minutes from New Street train station.

To view the development, visit www.davidsondevelopments.co.uk or contact Davidson Estates by calling 0121 455 7727 or emailing ben.davidson@davidsonestates.co.uk.

Ends (326 words)

For further information, please contact: 

Ben Davidson, founder and company director, Davidson Estates

Tel: 0121 455 7727 Mobile: 07834 561 537 Email: ben.davidson@davidsonestates.co.uk

Head office: Unit 2 Liberty Place, Sheepcote Street, Birmingham B16 8AE

Or

Andy Skinner at ASAP PR – 01608 651203, Mobile: 07990 978257

Notes to editors

Davidson Estates is an established estate and letting agency based in Edgbaston and Birmingham city centre, specialising in residential property lettings, management, sales and new homes. Founded by Ben Davidson in January 2012, the business has an excellent reputation for its high level of service and is now regarded as one of the city’s best and most reliable property agents.

Strong demand for Birmingham industrial property continues – Siddall Jones

Birmingham agents Siddall Jones have completed another industrial property sale, reflecting the continuing demand for industrial accommodation within the city.

Key Land Capital has acquired Kestrel House, a 16,600 sq ft unit on a 0.42 acres site for £700,000.

Kestrel House, at 57-59 Aston Brook Street East, is the former headquarters of Hobday Ltd, which traded as e-shopfitting, wholesalers of shop fittings and sign equipment.

The three storey property was originally built in 1900 and comprises a variety of buildings which have been acquired and adapted over time. It now includes a showroom, stores and offices and links to adjacent warehousing, workshops and outbuildings.

Ed Siddall-Jones, managing director of Siddall Jones, said: “The sale reflects the continued demand for industrial accommodation within the city.

“The Kestrel House site benefits from excellent communication links being situated next to the A38(M) Aston Expressway and this will allow the purchaser to reconfigure the site to accommodate today’s modern warehouse and trade counter users.”

The property was sold on behalf of the directors’ SIPP.

Hobday Ltd director David Best said: “We took the decision to sell the premises and contacted a number of commercial property agents operating in the Aston area, finally choosing Siddall Jones.

“Ed Siddall-Jones quickly identified the kind of buyer that would be interested in the property and very quickly two offers were on the table.

“The sale proceeded very smoothly and we were very pleased both with the service and the end result.”

Key Land Capital Ltd is an independent property investment and development company based in Birmingham. The business was the subject of a management buyout in May 2020 when co-founder Kevin Sharkey acquired 100% of the shares.

Mr Sharkey said: “Aston is an area we have previously invested in and we see the site as offering a significant value add opportunity.

“We plan to develop the site to provide a number of new build high quality new B1(c), B2, B8 smaller industrial units. We will be retaining part of the site, the unit on Aston Road, and refurbishing this to provide a new trade counter-warehouse unit.”

Siddall Jones, which has offices in Birmingham and Dudley, was recently named “Most Active Agent” in the West Midlands, in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine. In 2019, Siddall Jones was named Most Active Single Branch Agent by number of deals done by CoStar and was a Top Five finalist in the overall CoStar awards.

Ends (412 words)

For further information, please contact,

 

Ed Siddall-Jones, Managing Director,

Siddall Jones, The Mint, 95 Icknield Street, Birmingham B18 6 RU.

0121 638 0500

www.siddalljones.com

Prepared and issued by Andy Skinner at ASAP PR – 01608 651203, mobile 07990 978257.

Editors’ Notes

Siddall Jones, which has offices in Birmingham and Dudley, was launched by Ed Siddall-Jones in 2012 and has grown steadily from one office to two and from one member of staff to six. In 2020, the firm was named Most Active Agent in the West Midlands in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine. In 2019, Siddall Jones was named Most Active Single Branch Agent by number of deals done by CoStar and was a Top Five finalist in the overall CoStar awards.

New Lidl store set to bring 40 jobs to Redditch

A new Lidl store creating up to 40 jobs is set to be built on the former Arrow Valley Health Club site on Battens Drive by Woodbourne Group.

The proposal by the Birmingham-based developer and investor has been agreed in principle by the planning committee of Redditch Borough Council which passed a resolution to grant permission, subject to conditions and the resolution of a Section 106 agreement, at its meeting on Wednesday 25 November.

Work on the site is set to start in 2021 with a ten month build programme envisaged.

Tani Dulay, chief executive of Woodbourne Group, said: “We look forward to working with Redditch Borough Council and Lidl U.K. GMBH to invest over £2.5 million into the local economy by reinvigorating this site.

“The store will create a welcome number of jobs and bring Lidl’s award-winning produce at affordable prices to everyone within the community.”

He added that the plans would also significantly enhance the local built environment with extensive landscaping designed to complement Arrow Valley Park.

Nick Hardy, a principal in the planning, development and regeneration team at real estate consultancy Avison Young, advised Woodbourne Group on its application.

He said: “The development will provide a modern, well designed and managed building which will improve the appearance of the site and extend customer choice. Woodbourne Group has taken a bespoke approach to the development with provision for extra planting and landscaping.

“In addition, the proposals include a signal controlled pedestrian crossing and bus stops on Battens Drive which will benefit users of Arrow Valley Country Park, and local residents, as well as the foodstore.”

He added they had welcomed the appointment by Redditch Borough Council of retail experts Lambert Smith Hampton to produce an independent report.

“The application raised some complex planning policy issues and we are pleased to note the conclusion that the proposal will provide more choice for residents but will not undermine the local authority’s objectives for the regeneration of Redditch town centre.”

The club opened as Arrow Valley Country Club in the 1980s and was a popular squash and fitness club. It was taken over by Arrow Valley Health Club Ltd in 2014 but earlier this year closed as one of the commercial victims of Covid-19.

Ends (373 words)

For further information, contact:

Tani Dulay, Chief Executive, Woodbourne Group, Woodbourne House, 10 Harborne Road, Birmingham B15 3AA

0121 454 7592

Website – www.woodbournegroup.com/

Twitter – @WoodbourneGroup

Instagram – https://www.instagram.com/woodbournegroup/

Editors’ Notes

Woodbourne Group is a real estate investor and developer based in Birmingham with 130 years’ combined experience. It currently has a development pipeline worth £200 million and the end value of combined development created now exceeds £5 billion. The company aims to develop the potential of its projects through creative flair and entrepreneurial vision.

Prepared and issued by Andy Skinner at ASAP PR – 01608 651203, mobile 07990 978257.

£1 million plus of Worcester’s Iceworks apartments sold – with 80% using ‘Help to Buy’ scheme

The government’s “Help to Buy” scheme has already assisted 80 per cent of buyers to purchase more than £1 million-worth of apartments at an impressive project in Worcester.

Estate agency Nicol & Co is marketing and selling units at the Iceworks, a 54-apartment redevelopment of a 19th century water mill in St John’s on the city’s outskirts.

Georgina McGorrigan, new homes sales manager at Nicol & Co, explained most sales had received “Help to Buy” funds, but that potential buyers must act fast as applications for the scheme need to be made by 15 December.

There are three show apartments to view at the Iceworks, including The Laugherne, a 625 sq ft property with two double bedrooms and a Juliette balcony overlooking the brook after which it is named, priced at £172,500.

Ms McGorrigan pointed out that buyers might only need a 5% deposit, alongside a mortgage and £34,500 from the “Help to Buy” scheme.

She said: “The activity levels and viewings have been really positive, as expected for such a unique development, and we’ve already sold more than £1 million worth of apartments.

“What’s interesting is that over 80% of purchases have come from first-time buyers – and all of them have been using the government’s ‘Help to Buy’ scheme.

“Buyers wanting to get on the housing ladder really to need to make the most of scheme now. They should also be aware that they need to make applications fast as it ends in March, with only weeks to go before the deadline for new applications.”

Nicol & Co has already sold six units in the first phase of the Iceworks, which consists of 21 apartments in two blocks due to be completed early in the new year.

One block has nine apartments with two bedrooms and one bathroom over three floors, with 12 similar apartments over four floors in the other.

Ms McGorrigan said: “There are several other developments in Worcester, but not many offering a ground-sourced heat pump that almost halves average utility bills.

“The apartments all have a high-specification finish and they are in a great location – with easy access to city centre, the university campus and easy road and rail links to Birmingham, Cheltenham and beyond.

“The sales so far have been agreed before the apartments have been completed, and I’m sure that once phase one of the project is finished, the rest will fly out.”

Nicol & Co, which has just two apartments with outside space still available, is operating as normal with viewings available from Monday to Saturday.

As well as the Laugherne, other show apartments include The Lily and The Mallard, with property details at https://www.nicolandco.co.uk/developments/iceworks/.

Prices range from £152,250 to £185,000 for the apartments remaining in phase one of the Iceworks, but ‘Help to Buy’ means that buyers with a deposit of around £7,000 would only require a mortgage of £114,000.

Ms McGorrigan added: “These are wonderful new apartments, especially for first-time buyers, and we don’t want anyone to miss out on the ‘Help to Buy’ scheme that makes them so affordable.”

The Iceworks is the brainchild of local builder Kelvin Sparrey, who has had a hand in the renovation of several important local buildings.

Phase two of the project will see the former flourmill on nearby Bromyard Road converted into 33 apartments, all with two bedrooms and two bathrooms.

Anyone interested in more information can contact Ms McGorrigan at Nicol & Co on 01905 930404 or at Georgina@nicolandco.co.uk.

Ends (575 words)

For further information, please call:

Matt Nicol, Managing Director, Nicol & Co, 226 Worcester Road, Droitwich Spa, WR9 8AY

Tel: 01905 799072

Notes to Editors

Established in 2009, Nicol & Co is an award-winning estate agency offering advice on sales, lettings, new homes and land purchase. The company combines the latest in digital media with traditional high street courtesy and service to provide the perfect blend of old and new technology.

Prepared and issued by Andy Skinner at ASAP, 01608 651203, mobile 07990 978257.

Davidson Estates collects hat-trick of awards

One of Birmingham’s top residential estate and letting agencies has won a hat-trick of prestigious awards in the property sector.

Davidson Estates, based in Edgbaston and with a busy office in the city centre, was announced as a winner in the Lettings category of the Best Estate Agent Guide 2021 in October.

The Best Estate Agent Guide awards is run by the Property Academy, which assesses every branch in the country to find the best agents in a study supported by Rightmove, the UK’s leading property portal.

Peter Knight, founder of the Property Academy, said: “Congratulations to Davidson Estates for their award achieved after a rigorous and independent assessment.

“Only the best branches make it into the Best Estate Agent Guide and only the very best agencies have been recognised with an award.”

The company has also been informed that it has won two awards in the Lettings and Real Estate categories at the UK Property Awards 2020-2021, which will be presented at a virtual ceremony in December.

Jessica Bailey, the awards manager at the International Property Awards, said Davidson Estates was a winner for “excelling in customer service, quality of product listings and results”.

Ben Davidson, who launched Davidson Estates in 2012, said: “We are thrilled to have received three prestigious awards that reflect the excellent reputation we have built as residential property specialists.

“We have developed top quality services in property lettings, management, sales, new home sales, refurbishment and furniture solutions, and are one of the best and most reliable property agents in Edgbaston and Birmingham city centre.”

Ends (260 words)

For further information, please contact:

Ben Davidson, founder and company director, Davidson Estates

Tel: 0121 455 7727 Mobile: 07834 561 537 Email: ben.davidson@davidsonestates.co.uk

Head office: Unit 2 Liberty Place, Sheepcote Street, Birmingham B16 8AE

Or

Andy Skinner at ASAP PR – 01789 490786.

Notes to editors

Davidson Estates is an established estate and letting agency based in Edgbaston and Birmingham city centre, specialising in residential property lettings, management, sales and new homes. Founded by Ben Davidson in January 2012, the business has an excellent reputation for its high level of service and is now regarded as one of the city’s best and most reliable property agents.

 

Principle wins contract to manage one of Welsh capital’s newest luxury apartment blocks

One of the Welsh capital’s newest luxury apartment blocks, which has 104 units and incredible city views, is to be looked after by Principle Estate Management.

The contract to manage the Brickworks, on Trade Street in Cardiff, has come from Pier Management, the asset management subsidiary of the national freeholder Regis Group.

The new instruction comes after RG Capital Partners Ltd purchased the property’s freehold and immediately wanted Principle to take on the management of the development.

Principle already looks after many properties for Pier Management Ltd (the asset manager of RG Capital Partners Ltd) and manages properties for other clients in South Wales.

The Brickworks, just a four-minute walk from Cardiff Central station, is an award-winning development by Portabella, which has more than 20-years’ experience of creating modern properties.

The nine-storey complex is a new build that’s designed to look like a conversion and is part of the initial transformation of Cardiff’s new Central Quay area.

Adam Jones, business integration manager at Principle, said: “We were delighted to have been commissioned to look after this stunning property.

“We immediately contacted the outgoing agent with our data capture form to make sure we helped them to provide all the information we needed in a swift but organised manner.

“This was crucial as we pride ourselves on setting up the basics quickly and then thoroughly reviewing all financial, property management and compliance documentation.

“We quickly set up records on our Qube IT system and sent initial welcome letters out to leaseholders to introduce ourselves and provide key digital points of contact.

“This introduced customers to our portal where, once registered, they’re able to check their balance and pay online, report any maintenance items and keep their contact details up to date.

Mr Jones added: “Crucially, as we already look after various properties in Wales, we’re set up to automatically issue various statutory documents in Welsh as well as English.”

Daniel Harrison, managing director of Pier Management, said: “Principle has impressed us at all the properties they currently look after for us, and it was a natural progression to ask them to take care of one of our newer acquisitions, the Brickworks.

“We know that our instructions really matter to Principle, as they share our high standards for property management.

“We were also reassured that Principle is already operating in Wales and so has all the necessary documents translated into Welsh.”

Principle was launched in 2018 by Brett Williams, a past-chairman of the Association of Residential Managing Agents who has nearly 30 years of experience in the sector.

The Birmingham-based company has grown from what was virtually a one-man band two-and-a-half years ago into what is now 26 staff looking after a portfolio approaching 6,500 units in around 250 developments across the UK.

Ends (460 words)

For further information please contact:

Brett Williams,

Principle Estate Management LLP, 137 Newhall Street, Birmingham B3 1SF

Tel: 07954 078711 / 0121 289 4315

Email: BWilliams@PrincipleEstate.co.uk

www.PrincipleEstate.co.uk

https://twitter.com/PrincipleEM

https://www.linkedin.com/company/principle-estate-management/

https://www.facebook.com/PrincipleEstateManagement/ 

Editors’ notes:

Principle is a customer-focused managing agent providing a transparent property management service to the highest standards nationwide, focusing particularly on the management of apartment buildings. Principle Estate Management, based in Birmingham, launched in Spring 2018 and is led by experienced chartered surveyors. The business was born out of a passion for “doing it right” through a director-led, friendly approach combined with robust systems that maximize efficiency. Principle provides a service that sets the aspirational standard for other agents. The company manages modern apartment buildings, traditional blocks of flats, mixed use developments, private housing estates and private rented sector (PRS) or build-to-rent (BTR) developments, as well as portfolios of rented properties for residential or commercial landlords.

REI cashes in on private investor demand

Real Estate Investor plc (REI), the Midlands-focused real estate investment trust, has sold properties for almost £10 million.

Capitalising on the strong private and corporate investor market, the Birmingham AIM-listed investment company has exchanged contracts on property in Birmingham, West Bromwich, Coseley and Leicester, reflecting REI’s regional focus.

REI chief executive Paul Bassi said; ““We are delighted to announce these sales at values at or above our December 2019 year end valuation.”

“The sale proceeds will be used to reduce the company’s gearing, allowing us to keep existing cash and bank facilities available to make strategic acquisitions.”

“We have identified further assets that could be considered for sale and have experienced a rise in investor demand for certain resilient assets within our portfolio, along with increased occupier demand for our out of town office portfolio.”

The properties sold include an Aldi supermarket in Bearwood. Due to the strong trading performance of this unit, Aldi has acquired the freehold for £5.350 million, representing a yield of 5.26%.  The sale price reflects an increase of £1.296m (32% uplift) in value against the December 2019 year end valuation of £4.053 million.

As part of the sale agreement, REI negotiated an extended completion date of September 2021 and REI will continue to benefit from £300,000 p.a. rental income until this date, demonstrating heightened demand for convenience retail.

REI has also sold 315-317 & 319 High Street, West Bromwich for £625,000. These are vacated offices which have become in need of refurbishment.

Land at Coseley, West Midlands, has been sold for a minimum of £1.150 million, with a potential additional £350,000, subject to the completion of a local authority grant application by the purchaser Countryside Properties plc.

And finally, City Gate House, Leicester, which has been sold for £2.6 million and is due to complete in December 2020, following initial exchange in 2018. REI has benefitted from the ongoing rental income during the interim period.

Mr Bassi said; “Upon completion, the associated rental reduction from the disposal consideration of £9.725 million is only £457,500 per annum.”

Taking advantage of the current private and corporate investor appetite, REI has a number of other properties, that are currently in legal process and which are anticipated to unconditionally exchange contracts before the year end.

Mr Bassi added: “Looking forward, we remain confident of generating additional capital value across the portfolio through individual asset sales at book value or better.”

Ends (401 words)

For further information, please contact:

 Paul Bassi CBE, Chief Executive Officer,
Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 265 6406 or 0121 212 3446

www.reiplc.com

Prepared and issued by Andy Skinner at ASAP PR, 01608 651203, mobile, 07990 978257

About Real Estate Investors Plc

Real Estate Investors Plc (REI Plc) is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.59 million sq ft of commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.

The Company’s strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings.  The portfolio has no material reliance on a single asset or occupier.

 

New sales record of £21.2 million+ set by Bond Wolfe Auctions at October auction

Bond Wolfe Auctions has achieved the most successful result in its history with total sales of over £21.2 million at its latest auction this week.

The company sold 185 lots from the 201 offered on Wednesday 28 October, which represented an impressive success rate of 92%.

Its previous record was set at its auction in February this year, which achieved total sales of just over £20.25 million.

Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “This top sales figure of over £21.2 million and our 92% success rate just shows how the demand for well-priced property continues to grow.

“We are experiencing a huge interest in our livestreamed auctions, with 603,152 website page views, 103,626 video tours watched and over 32,666 people tuning in to watch the 28 October auction live.”

Typical of the interest from property buyers was the result for a pair of former school caretakers’ cottages next to the Ormiston NEW Academy at 1 and 2 Marsh Lane in Wolverhampton.

These attractive three-bedroomed, semi-detached properties were sold together for £220,000 from a guide price* of £148,000+.

Over in Walsall, a detached former supported housing property with eight bedrooms at 21 Hope Street sold for £381,000 from a guide price of £230,000+.

Bidders also paid top prices in Brierley Hill, with £105,000 achieved for a two-bedroomed, semi-detached at 14 Albert Street, from a guide price of just £59,000+, and £141,000 for a three-bedroomed, semi-detached at 35 Montgomery Crescent, from a guide price of £79,000+.

In Birmingham, a three-bedroomed, mid-terrace at 26 Summer Road, Edgbaston sold for £234,500 – well over double the guide price of £100,000+ – while a three-bedroomed, semi-detached at 115 Dyas Avenue, Great Barr went for £160,000 from a guide price of £85,000+.

And the hammer came down at £452,000 for an impressive four-bedroomed detached house at 21 Belle Walk in Birmingham’s plush suburb of Moseley, from a guide price of £385,000+.

Other outstanding results included three lots which were sold prior to auction, including a vacant detached office building at 35 Little Aston Hall, Little Aston, near Sutton Coldfield, which had a guide price of £395,000 and was sold for an undisclosed amount.

Other lots sold prior were two sets of four self-contained flats in neighbouring properties at 71 and 73 Beeches Road in West Bromwich, which are already bringing in annual rents of £21,420 and £20,280 respectively.

These properties both had guide prices of £195,000+ and were sold for £255,000 each.

Bond Wolfe Auctions’ next online auction will be livestreamed via the website at www.bondwolfeauctions.com from 9am on Wednesday 9 December 2020, with remote bidding by proxy, telephone and internet only.

The deadline for entries is Friday 13 November and anyone with properties for sale should contact enquiries@bondwolfeauctions.com or call 0121 312 1212.

Ends (457 words)

* Each property is subject to a reserve price which may be different from the guide price.

For further information, please contact:

Suzanne Randell, Head of Marketing and Communications,

Bond Wolfe Auctions,

1st Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 312 1212

www.bondwolfeauctions.com

Twitter – @BondWolfeAuc

Editors’ notes:

Bond Wolfe Auctions has a record breaking and award-winning team with over 300 years of combined property experience.  They sell all types of residential, commercial and mixed-use property, investments and land/development sites for private individuals and corporate clients. They will hold six auctions in 2020, offering online auctions selling properties nationally across the UK.