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Bassi consolidates his position as company’s largest shareholder

by Rachel Robson

Paul Bassi, the chief executive of Rickmansworth-based Real Estate Investors, has upped his stake in the company to 21.3% after purchasing 1.7 million shares at 9p each. The transaction means he has increased his position as the company’s largest shareholder, with a total beneficial interest of 72.4 million shares.

The purchase clearly highlights Bassi’s continued confidence in the company, a view he has held ever since he was appointed to his role in December 2006. Bassi has been a frequent purchaser of company shares, having bought one million in January, along with several additional purchases throughout last year.

When Bassi joined, its property portfolio stood at £28 million. But, having set an ambitious target of building a portfolio of £150 million within 18 months, the group is now well on its way to meeting its target. As at 31 December 2007, the group had gross property assets of £45.3 million. Bassi has more than 23 years of property experience under his belt, so it’s perhaps not surprising that he has such big ambitions for Real Estate Investors. He is also co-founder and chairman of Bond Wolfe Auctioneers and deputy chairman of Bigwood Chartered Surveyors.

Shares in Real Estate Investors shot up significantly following Bassi’s appointment more than a year ago, reaching a peak of 13.5p last summer. However, they have since come back

down to their current 10.3p level.

The company specialises in commercial property throughout the midlands and central England. It is is focused on delivering shareholder value through returns generated from strong yields and capital enhancements through targeting distressed and underperforming assets.