LondonMetric continues exit from retail assets

London metric martlsham

LondonMetric has sold its retail park in Martlesham Heath, Ipswich, for £22m, reflecting a net initial yield of 5.2%.

The 48,000 sq ft retail park was acquired in 2013 for £10.4m, and is fully let off average rents of £25.70/sq ft with a weighted average lease term of 12 years to expiry and 10 years to first break. Tenants include Card Factory, Hobbycraft, M&S, Mountain Warehouse, Poundland, and Shoe Zone.

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