UK logistics and grocery-led real estate firm LondonMetric Property has sold five assets for £42.8m (€50m).
The FTSE 250-listed real estate investment trust said it sold a 58,000sqft long-income asset in Durham let to Lidl and The Range for £14.1m; disposed of a 28,000sqft urban warehouse in Croydon let to HTC for £8.1m; and sold a long-income property located close to London Bridge for £3.1m.
LondonMetric also sold a £17.5m portfolio of urban warehousing estates comprising a 34,000sqft asset in Croydon and an 18,000sqft asset in Oxford.
Total sales since 31 March 2023 amount to £64m and are at a 1% premium to the 31 March book value, the company said.
Andrew Jones, LondonMetric’s CEO said: “We continue to see good liquidity for our assets at prices in line with current book values. These sales further reduce our floating rate debt which is now only £35m and represents just 4% of total drawn debt.
“This will have a positive impact on our earnings as well as further reduce our loan to value.”
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