Real Estate Investors sells Birmingham property for £4.6m

4th Jul 2014 09:57

West Midlands-based property group Real Estate Investors has sold its Cathedral Place property to Can Life UK for £4.6m.The property, which is located in Waterloo Street, Birmingham, was purchased at £356 per square foot and received a net initial yield of 4.12%.Chief Executive Officer Paul Bassi said: "We continue to receive interest in a number of our properties and are in discussion in respect of other sales which will provide the company with returns in line with our expectations."As of 10:15 the share price had risen 0.48% to 51p.WS