LondonMetric Property has invested £135.6m (€157.8m) to buy two UK logistics warehouses in separate transactions.
The FTSE 250 listed real estate investment trust has invested £97m to buy a 700,000sqft warehouse which has further development potential of up to 180,000sqft, and has paid £38.6m for a 296,000sqft asset located at Port One Logistics Park in Ipswich scheduled for completion in spring 2022.
Andrew Jones, CEO of LondonMetric Property, said: “These are excellent buildings, in strong locations and offer attractive opportunities to capture guaranteed rental reversions.
“These investments quickly follow on from the recent sale of our Primark mega logistics warehouse where the delayed completion on that transaction means that we will continue to collect the income until February next year.”
To read the digital edition of the latest IPE Real Assets magazine click here.