Real Estate Investors plc
Real Estate Investors PLC is an AIM-listed, UK Real Estate Investment Trust (REIT) that owns and manages a commercial property portfolio concentrated in the established and proven markets of the greater Midlands area, predominantly office and retail assets. The business model is generating rental and capital growth through active asset management, with disposal proceeds historically recycled into acquisitions but currently being used to repay debt and return capital to shareholders under a 2024-announced three-year orderly disposal strategy.
FY2025 in sixty seconds
year to 31 Dec 2025 · approved 23 Mar 2026 · 67 pages · Companies House
Real Estate Investors PLC owns and lets offices and shops, mostly in the Midlands. It is selling its properties under a three-year plan to pay off debt and return money to shareholders. In the year to 31 December 2025, revenue fell to £9.4m from £10.8m. It made a loss of £839k, smaller than the £2.4m loss the year before.
Revenue fell mainly because rent was lost from properties that were sold and from units left empty. Some tenants, including River Island and Wilkos, ran into financial trouble. The loss came largely from a £3.0 million drop in the estimated value of its properties. That is a paper loss, with no cash leaving the business. Lower interest costs helped.
The company ended the year with £6.1m in cash and borrowings of £34.2m, lower than a year earlier. It raised very little from shareholders. The dividend for the year was 1.6p per share, against 1.9p. Management aims to finish the sales plan on time but says more time may be needed given market conditions. The board also noted the Middle East conflict's effect on markets and interest rates. The auditor raised no concerns, and its banks have extended its loans into 2027.
Contracted rental income from a diversified commercial portfolio (34 assets, 119 occupiers)
Contracted rental income at year-end £8.3m p.a. (FY2024: £9.0m p.a.), not reliant on one single tenant or business sector
page 3Reduced average cost of debt (5.75% vs 6.5% FY2024) following hedge facility closure
Average cost of debt reduced to 5.75% (FY2024: 6.5%); interest costs reduced to £2.4m (FY2024: £3.3m)
page 3We remain focused on concluding the strategy within the 3-year time frame but, in view of current market conditions, a further extension to maximise value and the quantum of the return of capital to our shareholders may be necessary.
page 6Board remains committed to paying a fully covered dividend, subject to business performance and pace of disposals (REIT requires distribution of at least 90% of rental taxable profits). FY2025 total dividend 1.6p per share (FY2024: 1.9p), fully covered; final dividend of 0.4p per share declared, ex-dividend 2 April 2026, record date 7 April 2026, payment 30 April 2026. Total dividends declared/paid since 2012 policy commencement exceed £56.7 million.
page 611 years on one page · FY2015–FY2025
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
Nothing restated
Every figure is read again from the following year’s report: 307 confirmed, 3 differ.
No figure has been restated: every figure a later report printed again, it printed the same.