Real Estate Investors, the AIM-listed property investment company based in Birmingham, has sold three out of eight units at a Derby out-of-town shopping centre for almost as much as it paid for the entire site just two years ago.
Supermarket chain Lidl’s parent company, T E Beteiligungs GmbH, has acquired Units 1, 2 and 3 at Southgate Retail Park for £4.25 million.
REI purchased Southgate Retail Park for £4.8 million in September 2011.
The remaining five units have been retained and are either let or under offer at an estimated rental value of £250,000 per annum.
REI chief executive Paul Bassi said: “This is an excellent disposal significantly above our book valuation, demonstrating the growing appetite from investors and occupiers for regional assets.”
The deal follows hot on the heels of REI’s purchase in November of a major office building in Birmingham’s central business and professional services quarter.
The company paid £1.8 million in cash for 37a Waterloo Street and 7 Bennetts Hill, Birmingham,
The property is a city centre listed building with ground floor restaurant and upper part offices, producing £188,000 per annum. Tenants include W H Ireland Ltd, Triton Global Ltd and MVA Consultancy Ltd.
