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
  0.00 0.0% 256.00 256.00 256.20 256.40 254.80 256.20 336,710 12:49:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 122.2 258.1 28.6 9.0 2,330


07/09/2021 7:00am

UK Regulatory (RNS & others)

Londonmetric Property (LSE:LMP)
Historical Stock Chart

From Aug 2021 to Oct 2021

Click Here for more Londonmetric Property Charts.


RNS Number : 9054K

LondonMetric Property PLC

07 September 2021

7 September 2021


ACQUISITION OF THREE urban LOGISTICS warehouses for GBP35 million

LondonMetric Property Plc ("LondonMetric") announces the acquisition of three urban logistics warehouses for GBP35.4 million in separate transactions, reflecting a blended NIY of 4.4% and a reversionary yield of 4.9%.

The properties generate a rent of GBP1.7 million p.a. with 83% of the income benefiting from RPI or CPI linked rent review. The warehouses have a WAULT of 15 years and comprise:

-- 130,000 sq ft in Worthing, acquired for GBP19.0 million through a sale and lease back transaction with Bowers & Wilkins, a global leader in high performance audio technology. The occupier has agreed a new 15 year lease with rent reviews linked to CPI. The building serves as its headquarters, main manufacturing centre and distribution warehouse;

-- 50,000 sq ft in Uckfield, acquired for GBP10.3 million and let to John Lewis for a further 15 years with RPI linked rent reviews. The building is located on the A22 / A272 junction and has a low site density of 32%; and

-- 47,000 sq ft in Exeter acquired for GBP6.1 million and let to Jewson for a further 17 years. The building has strong reversionary and redevelopment potential and benefits from open market rent reviews with the next review in March 2022. It is located next to the M5 / A30 junction with the majority of the investment value supported by the residual land.

Andrew Jones, Chief Executive of LondonMetric, commented:

"These urban logistics assets are in good locations and let on long leases with certainty of income growth. We are continuing to find attractive opportunities for redeploying capital into our preferred sectors of urban logistics and grocery-led long income."

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

September 07, 2021 02:00 ET (06:00 GMT)

1 Year Londonmetric Property Chart

1 Year Londonmetric Property Chart

1 Month Londonmetric Property Chart

1 Month Londonmetric Property Chart
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20211022 12:09:01