LONDON: LondonMetric Property Plc (LON: LMP) announced the acquisition of three urban logistics warehouses in Croydon, Dunstable and Warrington for £18.7 million, reflecting a blended NIY of 4.3% and a reversionary yield of 5.3%. The warehouses have been acquired in separate transactions and have a WAULT of five years. In Croydon, a highly reversionary 28,000…
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LondonMetric Property acquires two new urban logistics warehouses for £39 million
LONDON: LondonMetric Property announced the acquisition of two urban logistics warehouses in Manchester and Birmingham for £39 million, reflecting a blended yield on cost of 4.25%. The newly built warehouses are let for 15 years at an average rent of £6.60 psf and benefit from RPI linked rent reviews. In Manchester, a 137,000 sq ft…