Finance

LondonMetric completes £28m of sales

By 2022-11-01T08:23:00

Andrew Jones, chief executive officer at LondonMetric

LondonMetric Property has sold two assets for £28.2m, reflecting a blended net initial yield (NIY) of 4.6%.

The group has sold a 61,000 sq ft retail park in Tonbridge, Kent, for £22.m, reflecting an NIY of 5.25%. Acquired in 2013 for £11.5m when it was let to B&Q and Halfords, LondonMetric accepted a surrender on the B&Q, which was subsequently reconfigured and extended.

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