REI Plc Sells £26.9M Assets, Focuses on Portfolio Maximization

0:00On March 24, real estate investors PLC, a Birmingham-based real estate investment trust, has sold assets worth 26.9 million pounds, since announcing its sales program in January 2024. The company released its final result for the year ending December 31, 2025, reporting underlying profits of 2.9 million pounds. It also paid a dividend of 1.6 pence per share for that year, bringing total dividends since 2012 to 56.7 million pounds. Sales have been slower than expected due to low market activity and uncertainty around the November 2025 UK budget. Still, the firm completed deals totaling 18.9 million pounds in 2024 and 8 million pounds in 2025. Mostly to private investors, management stayed disciplined through a tough final quarter. Chief Executive Paul Bassie highlighted the board's focus on wrapping up the three-year sales strategy. He noted robust rental collections at 99.28%, generating 8.3 million pounds in annual contracted income.

1:05The approach has kept dividends covered amid the challenges. As of December 31, 2025, REI's portfolio stood at about 950,000 square feet across 34 assets and 119 occupiers valued at 115.7 million pounds. There's a strong pipeline with 5.4 million pounds in legal stages as of March 20, 206. Looking ahead, the company is marketing 61.5 million pounds of retail mixed-use assets and plans to sell the remaining 47.0.2 million pounds throughout 2026. Management remains open to all options, including a full portfolio sale to maximize value for shareholders.