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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 : 6065Y
LondonMetric Property PLC
14 May 2021
14 May 2021
LONDONMETRIC PROPERTY PLC
ACQUISITION OF three urban LOGISTICS warehouses for GBP19 million
LondonMetric Property Plc ("LondonMetric") announces the acquisition of three urban logistics warehouses in Croydon, Dunstable and Warrington for GBP18.7 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 sq ft urban warehouse has been acquired for GBP5.3 million which is let to HTC Group for a further four years at a low rent of GBP9.00 psf. The building is situated in a prime South London industrial location.
In Dunstable, a highly reversionary 19,000 sq ft urban warehouse has been acquired for GBP3.0 million. It is let to Deralam Laminates for a further four years at a low rent of GBP7.00 psf. The high specification building is situated in an established industrial location within close proximity to J11a of the M1. The next rent review is due in February 2022.
In Warrington, 73,000 sq ft of warehousing has been acquired for GBP10.4 million. It is let predominantly to IKEA with a WAULT of six years at an average rent of GBP6.60 psf. The high specification and recently refurbished building is well located, situated less than a mile away from J8 of the M62 and with nearby retail and residential.
Andrew Jones, Chief Executive of LondonMetric, commented:
"Through high quality acquisitions, we continue to grow our urban logistics portfolio which now totals GBP1.0 billion. These purchases are very well located with high residual values, offering attractive yields and strong rental growth prospects through open market reviews and/or re-let opportunities."
-Ends-
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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May 14, 2021 02:00 ET (06:00 GMT)
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