LondonMetric Property PLC sold four long-income and retail assets for c. €19.7m.
The first and largest asset sold is a c. 2,500m2 Waitrose store in Malmesbury for €11.2m. The remaining assets are c. 4,366m2 of high street retail in Sunningdale and Rayleigh which LondonMetric sold for c. €8.5m. The properties total 15 units and have a weighted average unexpired lease term of four years.
Andrew Jones, LondonMetric's Chief Executive Officer said: "Following the completion of our CT Property acquisition last month, we have been proactively looking to dispose of select non-core assets. We are very pleased to have quickly transacted on several sales at prices above our allocated book values, with the proceeds enabling us to pay off all outstanding floating rate debt, leaving 100% of our drawn debt hedged. We expect to announce further sales shortly."