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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Londonmetric Property Plc | LSE:LMP | London | Ordinary Share | GB00B4WFW713 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.60 | -0.31% | 193.50 | 193.40 | 193.70 | 197.00 | 192.10 | 197.00 | 383,740 | 11:17:17 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Agents & Mgrs | 146.7M | -506.3M | -0.4648 | -4.17 | 2.11B |
TIDMLMP
RNS Number : 0336X
LondonMetric Property PLC
21 November 2017
21 November 2017
LONDONMETRIC PROPERTY PLC
disposAL of a tesco regional LOGISTICs
warehouse for GBP24.4 million
LondonMetric Property Plc ("LondonMetric") announces the disposal of a Tesco's logistics warehouse in Bolton for GBP24.4 million, reflecting a NIY of 5.35%.
The 274,000 sq ft regional warehouse was acquired as part of the GBP117 million Cabot logistics portfolio in August 2017 off a blended NIY of 6.1%.
The unit is let to Tesco for a further four years at a rental of GBP1.395 million pa, off GBP5.27 psf.
LondonMetric continues to retain the remaining 13 logistics assets from the Cabot portfolio of which 11 are urban logistics.
Andrew Jones, Chief Executive of LondonMetric, commented:
"Consumer shopping patterns in food retailing continue to evolve quickly and so in response to strengthening investor appetite for logistics assets over the last few months, we have decided to monetise this asset.
"In line with our strategy, we will recycle the proceeds into our growing urban logistics portfolio and our development pipeline which offer more attractive yields and greater certainty of growth."
-Ends-
For further information, please contact:
LondonMetric Property Plc
Andrew Jones / Martin McGann
Tel: +44 (0) 20 7484 9000
FTI Consulting
Dido Laurimore / Tom Gough / Richard Gotla
Tel: +44 (0)20 3727 1000
About LondonMetric Property Plc
LondonMetric is a FTSE 250 REIT (ticker: LMP) that specialises in distribution, convenience and long income property. It focuses on strong and growing income and adding value through asset management initiatives and short cycle developments. LondonMetric has 13 million sq ft under management. Further information is available at www.londonmetric.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISBIBDBBXDBGRG
(END) Dow Jones Newswires
November 21, 2017 02:00 ET (07:00 GMT)
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