LONDONMETRIC TRANSACTS ON £62 MILLION OF SALES
14 May 2025
LONDONMETRIC PROPERTY PLC
LONDONMETRIC TRANSACTS ON £62 MILLION OF SALES
LondonMetric Property Plc ("LondonMetric") announces that it has sold £61.8 million of non core and mature assets in separate transactions at a blended NIY of 6.1%.
The assets sold were previously acquired through corporate acquisitions and comprise:
· A multi-storey car park in Yorkshire let to Q-Parks and four pubs let to Stonegate, sold for £21.7 million at a blended NIY of 7.7%;
· A multi-let industrial estate in Crawley, sold for £21.4 million at a NIY of 5.05%;
· Two retail assets let to Lidl and Wickes, sold for £10.1 million at a blended NIY of 5.8%; and
· A logistics unit in Southampton, sold to an occupier for £8.6 million at a NIY of 4.8%;
The sales are in line with prevailing book values and are 10% above their allocated price at the time of purchase. LondonMetric has now sold 54 former LXi assets for £202 million.
Andrew Jones, Chief Executive of LondonMetric, commented:
"We continue to execute on our strategy of selling down non core and mature assets with a further series of excellent disposals. The proceeds from the sales will be re-invested into sectors and assets that offer better income reliability and growth."
For further information, please contact:
LondonMetric Property Plc
Andrew Jones / Martin McGann / Gareth Price
Tel: +44 (0) 20 7484 9000
FTI Consulting
Dido Laurimore / Richard Gotla / Andrew Davis
Tel: +44 (0) 20 3727 1000
londonmetric@fticonsulting.com
About LondonMetric Property Plc
LondonMetric is the UK's leading triple net lease REIT with a £6 billion portfolio aligned to structurally supported sectors of logistics, healthcare, convenience, entertainment and leisure. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.
Further information is available at www.londonmetric.com
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