REG - LondonMetric - LONDONMETRIC TRANSACTS ON £62 MILLION OF SALES

Londonmetric PropertyAnnouncement

14/05/2025 07:00

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RNS Number : 5321I  LondonMetric Property PLC  14 May 2025

14 May 2025

 

LONDONMETRIC PROPERTY PLC

LONDONMETRIC TRANSACTS ON £62 MILLION OF SALES

LondonMetric Property Plc ("LondonMetric") announces that it has sold £61.8
million of non core and mature assets in separate transactions at a blended
NIY of 6.1%.

The assets sold were previously acquired through corporate acquisitions and
comprise:

·      A multi-storey car park in Yorkshire let to Q-Parks and four pubs
let to Stonegate, sold for £21.7 million at a blended NIY of 7.7%;

·      A multi-let industrial estate in Crawley, sold for £21.4 million
at a NIY of 5.05%;

·      Two retail assets let to Lidl and Wickes, sold for £10.1 million
at a blended NIY of 5.8%; and

·      A logistics unit in Southampton, sold to an occupier for £8.6
million at a NIY of 4.8%;

The sales are in line with prevailing book values and are 10% above their
allocated price at the time of purchase. LondonMetric has now sold 54 former
LXi assets for £202 million.

 

Andrew Jones, Chief Executive of LondonMetric, commented:

"We continue to execute on our strategy of selling down non core and mature
assets with a further series of excellent disposals. The proceeds from the
sales will be re-invested into sectors and assets that offer better income
reliability and growth."

 

 

For further information, please contact:

LondonMetric Property Plc

Andrew Jones / Martin McGann / Gareth Price

Tel: +44 (0) 20 7484 9000

 

FTI Consulting

Dido Laurimore / Richard Gotla / Andrew Davis

Tel: +44 (0) 20 3727 1000

londonmetric@fticonsulting.com (mailto:londonmetric@fticonsulting.com)
 

 

About LondonMetric Property Plc

LondonMetric is the UK's leading triple net lease REIT with a £6 billion
portfolio aligned to structurally supported sectors of logistics, healthcare,
convenience, entertainment and leisure. It owns and manages desirable real
estate that meets occupiers' demands, delivers reliable, repetitive and
growing income-led returns and outperforms over the long term.

 

Further information is available at www.londonmetric.com

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