LONDON: LondonMetric Property Plc announced the off market acquisition of six single let urban logistics properties for £78.0 million from a FSTE 100 pension fund. The purchase price reflects a blended NIY of 5.8% which rises to 6.9% over the next two years. The portfolio comprises six high quality properties totalling 526,000 sq ft, located…
LONDON: LondonMetric Property Plc announced that it has exchanged contracts to sell two offices in Scotland to a single buyer for £36.6 million, reflecting a blended NIY of 7.0%. The sales are former LXi assets and comprise: Separately, LondonMetric has sold a former LXi care home in the West Midlands for £0.5 million. LondonMetric has…
LONDON: LondonMetric Property Plc has successfully divested seven properties for a total of £31.3 million, achieving a 7.0% net initial yield (NIY) and securing a 3% profit above book values. The transaction included the sale of non-core LXi REIT assets valued at £18.3 million, which fetched a 5% premium over book values. The sold assets…
LONDON: LondonMetric Property and LXi REIT have reached agreement on the terms of a recommended all-share merger. The terms of a proposed all-share merger between LondonMetric Property and LXi REIT have been agreed upon. As per the agreement, LondonMetric Property will take over all the existing and future ordinary shares of LXi at a ratio…
LONDON, UK: LondonMetric Property Plc will acquire the entire issued and to be issued share capital of CT Property Trust [CTPT] at the rate of 0.455 new LondonMetric shares for each CTPT share. On the basis of the Closing Price per LondonMetric Share of 188.0 pence on 23 May 2023, the Acquisition values each CTPT…
LONDON, UK: LondonMetric Property Plc has sold four assets, in separate transactions, for £34.2 million (LondonMetric share: £25.2 million), reflecting a blended NIY of 4.1%. The combined sale price is 35% above LondonMetric’s 30 September 2021 book value, representing 125bps of yield compression. The assets comprise: · a 32,000 sq ft grocery store in Ashford,…
LONDON, UK: LondonMetric Property Plc announced the acquisition of two urban logistics properties for £28.8 million, in separate transactions, reflecting an anticipated blended yield of 4.5% and a reversionary yield of 5.0%. The properties are expected to generate a rent of £1.4 million p.a. and comprise: · a 125,000 sq ft urban logistics forward fund development…
LONDON, UK: LondonMetric Property Plc has bought six London urban logistics warehouses in separate transactions for a total investment of £26.7 million, reflecting an anticipated blended initial yield of 4.3% and a reversionary yield of more than 4.5%. Three properties in Colliers Wood, Stratford and Stockwell have been acquired with vacant possession and will be…
LONDON, UK: LondonMetric Property Plc announced the acquisition of an urban logistics warehouse in Luton from Marcol Industrial Investments for £15.5 million. The 168,000 sq ft property is located on Luton Enterprise Park, close to Luton town centre and J11A of the M1. It is let to two occupiers with a WAULT of three years….
LONDON, UK: LondonMetric Property Plc announced the acquisition of an urban logistics warehouse in Cardiff for £11.1 million, reflecting a blended NIY of 5.0%. The 119,000 sq ft warehouse is let to Global Life Sciences Solutions, trading as Cytiva, on a new ten year lease with RPI linked rent reviews of between 1% and 3%….
LONDON, UK: LondonMetric Property Plc has sold its retail park in Kirkstall, Leeds, for £25.2 million, to a UK institutional investor. The 120,000 sq ft Kirkstall Bridge Shopping Park was developed by LondonMetric in 2015 after acquiring the site in 2011. Following the recent re-letting of a 21,000 sq ft unit to The Range, the…
LONDON: LondonMetric Property Plc has bought a well located urban logistics warehouse in Waltham Cross for £43.8 million through a sale and lease back transaction, a news release said. The 115,000 sq ft warehouse is let to Reynolds, a national foodservice business, on a new 23 year lease with the benefit of CPI+1 linked rent…