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.”
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