In a strategic move to optimise its portfolio, LondonMetric Property has completed the sale of €73.3m worth of non-core and mature assets across separate transactions, achieving a blended net initial yield of 6.1%.
The disposals, which align with the company's book values and represent a 10% premium over their allocated acquisition prices, include a multi-storey car park in Yorkshire let to Q-Parks alongside four Stonegate-operated pubs (€25.7m at 7.7% NIY), a multi-let industrial estate in Crawley (€25.4m at 5.05% NIY), two retail assets occupied by Lidl and Wickes (€12m at 5.8% NIY), and a logistics unit in Southampton sold to an occupier (€10.2m at 4.8% NIY).
"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," commented Andrew Jones, Chief Executive of LondonMetric.
This latest series of transactions brings LondonMetric's total disposals of former LXi assets to €239.7m across 54 properties, underscoring the company's disciplined approach to capital recycling. For investors, the timing of these sales demonstrates LondonMetric's confidence in identifying higher-growth deployment opportunities despite current market volatility, potentially signalling emerging value in specific subsectors.
The UK's leading triple net lease REIT, with a portfolio valued at approximately €7.2bn, continues to focus on structurally supported sectors including logistics, healthcare, convenience, entertainment and leisure that deliver reliable, repetitive and growing income-led returns.
People:
- Andrew Jones, Chief Executive, LondonMetric Property Plc
Companies:
- LondonMetric Property Plc - UK's leading triple net lease REIT
- FTI Consulting - Corporate communications consultancy
- Q-Parks - Car park operator
- Stonegate - Pub operator
- Lidl - Retail chain
- Wickes - Retail chain
- LXi - Previous owner of assets
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