LondonMetric sells three warehouses

Andrew Jones

LondonMetric has sold three distribution warehouses for £24.3m, reflecting a blended net initial yield (NIY) of 5.4%.

Two of the properties are located in Wakefield and the third is a regional distribution warehouse in Ashby-de-la-Zouche. Combined, they have a weighted average unexpired lease term (WAULT) to first break of 3.4 years and all are subject to open market rent reviews. The sale price achieved is 4% above book value.

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