Real Estate Investors has sold a retail block in the Chinese quarter of Birmingham to L&C Investments for £2.7m.
The Birmingham-based UK-listed REIT acquired the block with vacant possession and have now sold it fully occupied.
The Latitude retail parade in Bromsgrove Street was acquired from Taylor Wimpey for £2.3m in 2007.
REI chief executive Paul Bassi said: “Midlands investment property remains positively in demand and so we will continue to make selected sales where our asset management initiatives have been completed. We continue to seek criteria compliant acquisitions at attractive yields where our asset management initiatives can add further value. The foundation of our near £200m portfolio and the rental income from these properties continues to support our progressive dividend policy.”
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