UK logistics real estate investor LondonMetric Property has invested £39m (€43m) to buy two newly-built urban logistics warehouses in Manchester and Birmingham.

The FTSE 250 listed real estate investment trust has bought the 137,000sqft warehouse in Manchester from Marshall CDP for £20.5m and invested £18.1m to buy the 122,000sqft asset in Birmingham from Opus Land.

Andrew Jones, CEO of LondonMetric, said: “These newly built warehouses are fully income generating, well located and let on long leases to established and growing occupiers.

“They provide guaranteed rental growth, will further improve the quality of our portfolio and allow us to extend both existing and new occupier relationships.”

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