A surge of investment into the West Midlands helped Real Estate Investors PLC (LON:RLE) lift net assets by well above inflation in 2015 and raise its dividend by a third.
The property specialist said investment overall in the region rose by £2.6bn in 2015, with a third of that going into office buildings and £722mln into retail.
Brexit may deliver anther buying opportunity, said Paul Bassi, chief executive.
“Economic activity in the region will remain positive and investor and occupier demand will remain stable, especially as it is likely that the low interest rate environment will remain for 2016,” he said.
“Our region is in the early stages of its re-emergence as an economic and commercial powerhouse, underpinned by a number of supporting factors, not least, the highest level of future inward investment the region has ever seen.”
Real Estate’s assets rose by 51% over the year to £157.5mln and by 82% on a net basis to £117.9mln.
NAV per share basis rose by 8% to 62.8p. Profits doubled over the year to £12.2 mln while the dividend rises by a third to 2p.
“We anticipate continued growth in our portfolio in 2016, and further rental and capital growth over the coming years, all of which will underpin our commitment to paying a progressive dividend,” Bassi added.