LondonMetric Property has transacted on £70 million of warehouse acquisitions and £50 million of non core disposals, including sites in Leeds, York and Doncaster.
The £70 million of acquisitions consist of seven warehouses including five trade warehouses in Leeds, Derby, Swindon, Bolton and Farnham totalling 113,000 sq ft, acquired for £18.9 million and let to Travis Perkins, MKM and Jewson.
The £50 million of disposals consist of ten former LXi assets and a former CTPT asset. They include a 34,000 sq ft car show room in York let to Vertu (sold for £10.5 million) and an 18,000 sq ft Nissan car show room in Doncaster (sold for £2.5 million).
Andrew Jones, Chief Executive of LondonMetric, said: “We have been very clear on our desire to monetise some assets acquired from our corporate takeovers. We have now sold c.£100 million of LXi assets, with 13 of the 16 non core CTPT assets also sold at an average of 14% above our original underwrite values.
“We have successfully reinvested these proceeds into high quality properties, in stronger sectors that will deliver accelerated income growth.”
