LondonMetric has acquired two recently developed urban logistics warehouses for a combined £23.5m reflecting a blended net initial yield of 4.9%, rising to 5.6% after five years.
Totalling 128 000 sq ft with an average lease length of 13 years, the assets comprise a 48,000 sq ft warehouse in Avonmouth let to CHEP and an 80,000 sq ft scheme in Cambridgeshire let to Cambridge Commodities.
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