LondonMetric - LondonMetric sells four distribution assets
LONDONMETRIC SELLS FOUR DISTRIBUTION ASSETS FOR
FURTHER REDUCING ITS MEGA BOX EXPOSURE
The four properties have a WAULT of 10 years and generate a rent of
The total consideration reflects a 2.6% discount to 30 September book value.
Following the sales, LondonMetric's big box warehousing will represent 14% of its portfolio, across three assets. Income exposure from
On a pro forma basis, these sales reduce LTV to 35% compared to 38% at 30 September.
"We have taken the opportunity to respond to global investor demand for distribution warehousing to monetise some of our larger assets in geographies where we expect income growth to be more muted. The sales further improve the income diversification of our largest occupiers and provides headroom to invest further into urban logistics, which continues to offer superior income growth prospects."
For further information, please contact:
Tel: +44 (0) 20 7484 9000
Tel: +44 (0)20 3727 1000
LondonMetric is a
Further information is available at www.londonmetric.com
This information is provided by RNS, the news service of the
Quick facts: LondonMetric Property PLC
Market Cap: £1.99 billion
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