Redefine International, the FTSE 250 income focused UK Real Estate Investment Trust, announces that it is has acquired a 25.35% shareholding in the International Hotel Group Limited for c. £3.8million.

Wednesday, 30 July 2014 13:18

Commercial real estate is beneficial

For business owners, buying a commercial property is an investment in their future, without being one in their core business, says Mike Walters Renprop Commercial divisional head.

Diversified income focused property firm, Redefine International, announced in 2012 that it has through its 71% held subsidiary Redefine Hotel Holdings (RHH) Limited, acquired  60% of the issued shares in BNRI Earls Court Limitedfrom Camden Lock and Earls Court LLP for the purchase price of GBPounds 8.7 million. The purchase price plus transaction costs of £0.4 million reflected a net initial yield of 7.5% and was funded by the Company and its co-investors in RHH on a pro-rata basis.

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