LondonMetric Acquires Six London Urban Logistics Warehouses.

MANews-(C)2009-2022

UK-based real estate investment trust LondonMetric Property plc (LSE: LMP) has acquired six London urban logistics warehouses in separate transactions for a total investment of GBP 26.7m (USD 34.02m), the firm said.

The price reflects an anticipated blended initial yield of 4.3% and a reversionary yield of more than 4.5%.

Three properties in Colliers Wood, Stratford and Stockwell have been acquired with vacant possession and will be redeveloped or refurbished at an anticipated yield on cost of 4.5%.

The remaining properties in Hackney, Acton and Thamesmead are fully let with a WAULT of 11.4 years and have been acquired at a NIY of 3.9% and a reversionary yield of 4.7%.

The assets are expected by the...

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