UK real estate investment trust LondonMetric Property has invested £31.2m (€35.6m) to buy two warehouse assets in Milton Keynes.
The FTSE 250 property company said the assets, acquired in separate transactions, comprises a 66,000sqft unit, which is let to TalkTalk as a data centre and has been bought for £23.9m and a fully-let 42,000sqft urban logistics warehouse, which has been acquired for £7.3m.
Andrew Jones, CEO of LondonMetric, said: “Following our recently announced disposal of long let NNN retail assets, we are pleased to have quickly redeployed the proceeds into two high-quality acquisitions let on very long leases with guaranteed rental growth.
“These assets are very well located in attractive urban geographies with strong infrastructure characteristics and provide high occupier contentment.”
To read the digital edition of the latest IPE Real Assets magazine click here.