Real rise in rents

West Midlands property group Real Estate Investors recorded an 11.6% increase in contracted rental income in 2012.

Chief executive Paul Bassi said the increase was just one of the highlights of an outstanding year of progress which saw the Birmingham company pay its inaugural dividend.

He said: “There has been a significant improvement in bank lending and the appetite for regional property assets from institutions, new funds and the corporate and private sector. The directors believe that statistics will show a substantial increase in the aggregate value and number of investment property transactions having taken place for the West Midlands region.”

Occupancy rose to 86.75% and Mr Bassi said the company anticipated further success during 2013.