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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 | |
---|---|---|---|---|---|---|---|---|---|---|
4.00 | 2.01% | 202.80 | 202.40 | 202.80 | 205.60 | 194.10 | 194.10 | 5,103,271 | 16:35:01 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Agents & Mgrs | 146.7M | -506.3M | -0.4648 | -4.36 | 2.21B |
TIDMLMP
RNS Number : 3614Z
LondonMetric Property PLC
21 May 2021
21 May 2021
LONDONMETRIC PROPERTY PLC
ACQUISITION OF TWO urban warehouseS in london for GBP13.5 million
LondonMetric Property Plc ("LondonMetric" or "Company") announces the acquisition of two vacant London warehouse assets in Brent Cross and Streatham for a combined purchase price of GBP13.5 million.
The Company has agreed a new 20 year lease with Jacuna Kitchens across c.75% of the combined space. Jacuna will operate c.100 dark kitchens across both locations and LondonMetric will refurbish and upgrade the warehouses to provide enhanced power, ventilation and drainage to the buildings.
Letting of the remaining space is under negotiations with a new delivery start up. Following completion of the letting and refurbishment, LondonMetric expects to deliver a blended yield on cost of 5.4% from the acquisitions.
Andrew Jones, Chief Executive of LondonMetric, commented:
"We are excited by the dark kitchen sector and are pleased to be able to work with Jacuna on acquiring these warehouses and upgrading the facilities to their requirements. We are working with them on the rollout of further dark kitchen facilities across London."
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
About LondonMetric Property Plc
LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a diversified long income portfolio, with 16 million sq ft under management. 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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(END) Dow Jones Newswires
May 21, 2021 02:00 ET (06:00 GMT)
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