Listed UK real estate investment trust LondonMetric Property has bought three warehouses in separate deals for £35.4m (€42m).
The FTSE 250 company said it has acquired a 130,000sqft asset in Worthing for £19m through a sale and leaseback deal with Bowers & Wilkins; paid £10.3m for a 50,000sqft asset in Uckfield and invested £6.1m to buy a 47,000sqft asset in Exeter.
The company said the properties have a weighted average unexpired lease term of 15 years and generate rent of £1.7m each year.
Andrew Jones, CEO of LondonMetric, said: “These urban logistics assets are in good locations and let on long leases with certainty of income growth.
“We are continuing to find attractive opportunities for redeploying capital into our preferred sectors of urban logistics and grocery-led long income.”
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