Trio of deals shows REI’s strength in key heartland sites
Further proof of strong demand for commercial property in Real Estate Investor plc’s traditional heartland comes with a trio of deals announced by the Birmingham-based, AIM-listed company across the wider West Midlands.
In Birmingham, REI has agreed a five year lease on 2,985 sq ft with Team Support Healthcare which has relocated to 40 St Paul’s Square from smaller offices within the Jewellery Quarter.
REI was advised by Charlotte Fullard at Vail Williams with legal advice from Donna Barnes at Shakespeare Martineau.
Jack Sears, asset manager at REI, said: “This letting to Team Support Healthcare means the ground floor at 40 St Paul’s Square is now fully let and there only remains one unit on the first floor which is being jointly marketed by Charlotte Fullard at Vail Williams and James Mattin at Bond Wolfe.”
Over in Bromsgrove, Instinctive Technologies has taken 1,300 sq ft of additional space within Unit 8 at Topaz Business Park.
Mr Sears said: “Instinctive Technologies originally occupied the ground floor and has now taken the upstairs unit, effectively doubling the company’s space on the scheme.
“This clearly demonstrates the firm’s confidence in Topaz Business Park as a location and it show REI’s willingness to work with tenants to help them grow their business.”
REI refurbished the upstairs unit before Instinctive Technologies moved in and the deal was handled in-house with legal advice from Donna Barnes at Shakespeare Martineau.
Strong confidence in Leamington Spa as a retail destination has been demonstrated by Hammonds, the fitted furniture company, which has taken additional space of 807 sq ft, now totalling 2,022 sq ft, within the parade at Lunn Poly House where REI facilitated the expansion via a knock through into the former Hayes unit.
Mr Sears added: “This has effectively created a double unit, highlighting the confidence in Leamington Spa being demonstrated by the likes of Hammonds.”
Jon Blood at Bill Waring & Co represented REI with Donna Barnes at Shakespeare Martineau once again providing legal advice.
Mr Sears said: “We still have additional retail space in prime pitches within Leamington, all located along The Parade, and enquiries should be directed to Jon Blood.”
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For further information, please contact:
Jack Sears, Asset Manager,
Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP
0121 265 6406 or 0121 212 3446
Prepared and issued by Andy Skinner at ASAP, 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.