UK logistics real estate investor LondonMetric Property has invested £72.9m (€80.9m) to buy six assets.
The FTSE 250 real estate investment trust has acquired a £62m portfolio of five food stores let to Waitrose in a sale and leaseback deal. The assets are located in Keynsham, Malmesbury, Paddock Wood, Towcester and Yateley the stores range in size from 27,000sqft up to 43,000sqft and has been let to Waitrose on new 20-year leases.
LondonMetric said it has also bought a 32,000sqft urban logistics unit in Walthamstow for £10.9m let to Ocado.
Andrew Jones, chief executive of LondonMetric, said: “These investments will increase our exposure further to the winning sectors and occupiers, with Waitrose now a top ten occupier and Ocado a new addition to our customer base.
“In a macro environment characterised by zero interest rates, well let properties are becoming increasingly sought after.”
Jones said following the company’s other long income acquisitions announced earlier in the month, LondonMetric has now invested £83m of the £120m raised in its equity placing and are progressing well on other opportunities that have similarly attractive qualities.
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