Finance

LondonMetric sells three warehouses

By 2019-01-07T07:56:00

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.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Try Property Week For Free to finish this article.

Sign up now for the following benefits:

  • Unlimited access to Property Week
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue