Real Estate Investors, the Birmingham-based property investment company, has signed a deal that will draw more shoppers into Walsall.

Retail Multiples (Walsall) Ltd has taken the 35,000 sq ft former BHS store on Park Street which has been vacant since the demise of BHS in August 2016.

Retail Multiples has signed a new lease from January 2019 for 20 years and plans to convert the unit into an indoor shopping centre with approximately 35 tenants.

On the busy shopping parade of Park Street, Retail Multiples (Walsall) Ltd join neighbouring occupiers including Superdrug, Waterstones and Foot Asylum.

Jack Sears, asset manager at REI, said: “This is great news for Walsall shoppers and is bound to create significant footfall for Park Street. It’s also great news for REI as the property had been vacant for some time and we are pleased to have signed up Retail Multiples (Walsall) Ltd.”

Donna Barnes of law firm Shakespeare Martineau acted for REI and Retail Multiples (Walsall) Ltd were advised by Alun Price at Morgan La Roche.

Ends (171 words)

For further information, please contact:

Jack Sears, Asset Manager,
Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 212 3446

www.reiplc.com

Prepared and issued by Andy Skinner of ASAP, 01789 490786, 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 1.5 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.

On 1st January 2015, the Company converted to a REIT.  Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities.

The Company aims to deliver capital growth and income enhancement from its assets, supporting a progressive dividend policy. Further information on the Company can be found at www.reiplc.com