Monday, 4 April 2011

Slipping property values see Real Estate Investors swing into the red - Commercial Property - Business News - Business - Birmingham Post

Slipping property values see Real Estate Investors swing into the red - Commercial Property - Business News - Business - Birmingham Post

A property company run by one of the leading entreprenuers in the West Midlands has recorded losses of more than £5 million.

Paul Bassi’s Real Estate Investors posted a loss before tax of £5.6 million against a 2009 profit of £4.3 million.

However the results for 2010 showed a 20 per cent rise in contracted rental income from £3.34 million in 2009 to £4.01 million and net assets up 18.3 per cent from £27.3 million to £32.3 million.

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