LondonMetric sells industrial assets for €30.4m (GB)

LondonMetric sells industrial assets for €30.4m (GB)

LondonMetric Property has sold four assets, in two separate transactions, for €30.4m (£25.6m), reflecting a blended NIY of 5.3%. The properties have a WAULT of five years and comprise:

  • a portfolio of three multi-let industrial assets totaling 53 units across 235,000ft², located in Halesowen and Aston, Birmingham. The properties have a WAULT of three years and have been sold to The Ardent Companies UK for €25.6m (£21.6m), reflecting a NIY of 5.7%. and
  • a roadside asset in Stamford Hill, London, which has been sold for €4.7m (£4m), reflecting a NIY of 3.5%. The property is let to TG convenience for a further 19 years.

Andrew Jones, Chief Executive of LondonMetric, commented: “We have continued to react to market interest for our assets and, despite the current macro uncertainty, have achieved strong sales that crystalise attractive returns. This activity continues to ensure that our portfolio remains modern, fit for purpose and positioned to outperform.”

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