LondonMetric (LMP) is a UK REIT admitted on the Official List and to trading on the Main Market of the London Stock Exchange (“LSE”) on 28 January 2013 as a result of the merger between London & Stamford Property plc (LSP) and Metric Property Investments plc (METP). LSP was admitted to the Official List and trading on the Main Market of the LSE on 1 October 2010, and prior to that traded on the AIM market of the LSE from 7 November 2007, and METP was admitted to the Official List and trading on the Main Market of the LSE since its IPO on 24 March 2010.
LondonMetric aims to deliver attractive returns for shareholders through a strategy of increasing income and improving capital values. It invests across the UK in Retail and Distribution properties as well as Greater London real estate opportunities. It employs an occupier-led approach to property investments through opportunistic acquisitions, joint ventures, active asset management and short cycle developments. The asset focus is on properties with enduring occupier appeal providing opportunities to improve both rental values and the security and longevity of income; and limited risk redevelopments with the aim of enhancing shareholder returns.



LMP Investor Relations

Recent Broker notes

BarChart Indicators

Recent RNS notices

LondonMetric Property Fundamentals (LMP)

LondonMetric Acquires Multiplex Cinema Portfolio

LondonMetric Property Plc ("LondonMetric") announces that it has exchanged contracts to acquire a portfolio of ten out of town Odeon multiplex cinemas from Odeon Property Group LLP for £80.6 million (net of corporate acquisition costs). The acquisition will be funded by a term facility of £43.5 million provided by Lloyds Bank plc.

The portfolio is let to Odeon Cinema Limited for a remaining term of 24.9 years with no breaks and is subject to annual rental increases of between 1% and 5% linked to the annual RPI index. The total initial rental income is £5.9 million per annum.

The cinemas comprise 384,220 sq ft and are located in: Chelmsford, Derby, Huddersfield, Lee Valley (London), Merryhill (Dudley), Preston, Tamworth, Taunton, Telford and Warrington. They either adjoin or are in close proximity to a retail park or shopping centre, and in 2012 attracted a combined attendance of 3.8 million visits.

March2014 . . . Added the Distribution Warehouse of Oak Furniture Land, in Swindon: yielding ~6.5% on the investment...see RNS . -DYOR-
LMP sp ~£1.44 - so I'm in +ve territory, just.

Whats your thoughts on this now skinny, with a 5.5p div + 2p special div.
Edit: 3.5p + 2 p special div.

I no longer hold, but it still looks reasonable - yield @4.12%.

StockMarketWire.com
LondonMetric Property has sold the DFS property in Enfield for £24.5 million (LondonMetric share £7.5 million) on behalf of its DFS joint venture.

The unit is let at a rent of £1.7 million pa and the sale to a large UK institution reflects a NIY of 6.6%. The JV acquired the 32,000 sq ft property in March 2014 as part of a portfolio of 27 DFS stores from the administrators to Delphi Properties Limited, off an overall NIY of 9.3%. The sale crystallises a profit on cost of 19% and a geared IRR of 30%.

Separately, LondonMetric announced that it has also sold its Watling Retail Park in Cannock for £7.5 million to a UK institution reflecting a NIY of 6.15%.

The 25,000 sq ft retail park was developed by LondonMetric in November 2012 off a yield on cost of 8.6%. It is fully let to DFS, Carpetright and Porcelanosa with a remaining WAULT to break of 13.3 years. The disposal crystallises a profit on cost of 32% and a geared IRR of 31%. LondonMetric advised the JV on Enfield and Strutt & Parker advised LondonMetric on Cannock.

Chief executive Andrew Jones said: "We view the retail property sector opportunistically and will recycle assets which have delivered on their business plans. Both of these assets have generated very strong returns for us and we will continue to capitalise on the high demand from institutions for strong, well-let real estate."

Half Year results due 26 Nov 2015.

StockMarketWire.com
LondonMetric Property has exchanged on the sale of its Odeon Multiplex Cinema in Preston for GBP10.2 million to Blackrock UK Long Lease Property Fund reflecting a net initial yield of 5.75%. The ten screen, 33,000 sq ft cinema is let to Odeon Cinemas Ltd for a remaining term of 23 years. The lease is subject to annual rental increases of between 1% and 5% linked to RPI. The property formed part of a portfolio of ten Odeon Multiplex Cinemas acquired by LondonMetric in November 2013 at an overall net initial yield of 7.2%. It continues to own seven Odeon cinemas and one Vue cinema with an average lease length of 22 years.

Ex-divi Thurs 17th March 2016 (2.6p + 1.15p)

Numis today reaffirms its hold investment rating on LondonMetric Property (LON:LMP) and cut its price target to 164p (from 166p).

LondonMetric Property will announce its results for the year ended 31 March on 1st June 2016.

StockMarketWire.com
LondonMetric Property has acquired two convenience assets in Matlock and Leicester and a development site in Ipswich for a total cost of GBP16.2 million, reflecting a net initial yield of 7.0%.

In Ipswich, LondonMetric has acquired a three acre site from Tesco, where it intends to develop a new 30,000 sq ft retail park; 20,000 sq ft has been pre-let to Wickes. The development is expected to complete in summer 2017 at a total cost of £8.0 million, reflecting an anticipated yield of 7.7%.

In Matlock, LondonMetric has acquired a 22,000 sq ft store and pre-let 13,000 sq ft to M&S, reflecting a yield of 7.0%. Terms are agreed on the remaining space.

In Leicester, LondonMetric has agreed to buy an 18,000 sq ft development pre-let to Aldi, reflecting a yield of 5.8%. Practical completion is expected in August 2016. The weighted average unexpired lease term of the three lettings is 18.4 years.

StockMarketWire.com
LondonMetric Property's JV with Universities Superannuation Scheme Ltd, known as Metric Income Plus Ltd Partnership, has sold its retail parks in Bridgwater, Chatham and Grimsby for GBP15.9m.

LondonMetric's share of this sum, which reflects a blended NIY of 5.7%, is GBP8.0m.

The 33,000 sq ft Range store in Bridgwater has been sold to an international investor for £4.9 million, reflecting a NIY of 5.1% rising to 5.7% in 2018. The newly developed store was acquired in 2013 at a NIY of 6.8% and has an unexpired lease term of 17 years. The 26,000 sq ft Wickes store in Chatham has been sold to clients of Knight Frank Investment Management (KFIM) for £6.9 million, reflecting a NIY of 5.64%. The store was acquired in 2013 at a NIY of 7.0%. The 21,000 sq ft Wickes store in Grimsby has been sold to an international investor for £4.1 million, reflecting a NIY of 6.4%. The newly developed store was acquired in 2015 on a forward commitment basis at a NIY of 7.2%.

StockMarketWire.com
LondonMetric Property has purchased a four acre site in Crawley to develop approximately 100,000 sq ft of prime distribution space at a cost of c£20 million, reflecting a yield on cost of c6.3%.

Located on a prime South East urban logistics estate less than one mile from Gatwick Airport, the site has been purchased for GBP7.6 million. Planning for the new scheme is expected by the end of this year with build completion anticipated in the first quarter of 2018. The scheme is expected to generate a rent of GBP1.3 million p.a.

StockMarketWire.com
LondonMetric Property's recurring profits increased 19% to GBP48.5 million in the year to the end of March with the group delivering substantial earnings growth through its focus on retail distribution.

EPRA earnings totalled £48.5 million or 7.8p per share while net rental income rose 10% to £77.7 million. Contracted income up to £87.1 million.

Other highlights:

- £11.7 million pa of new rental income from 1.9 million sq ft of completed developments and £3.5 million pa from asset management transactions

- 3.1% like-for-like income growth and 6.4% ERV growth

- Full year dividend of 7.25p per share, 107% covered. Change to quarterly dividends with next payment of 1.8p per share expected October 2016

Chief executive Andrew Jones said: "Our focus on growing our income has delivered a substantial increase in EPRA earnings during the year and we will continue to grow our repetitive and predictable income further. As yield tranquillity sets in, the compounding impact of this repetitive effect is becoming increasingly attractive.

"Distribution is the best performing retail sub sector driven by rapidly changing consumer shopping patterns and the need for retailers to continually invest in their distribution capabilities to remain competitive. Since merger, we have consciously increased our distribution exposure from 20% to 54% of the portfolio by value, and this is set to grow further, capitalising on this trend and building on our retailer relationships.

"We continue to experience strong structural demand/supply dynamics in this sub sector and our 2.0 million sq ft distribution development programme will help to deliver sustainable earnings and income growth as well as incremental returns.

"Our portfolio metrics are as strong as ever and we remain highly disciplined in our investment approach."

LondonMetric Property also announced that Andrew Livingston has joined the board as an independent non-executive director with effect from 31 May. He also joins as a member of the Audit Committee. Livingston has been the Chief Executive of Screwfix since 2013

Another one being hit by the Brexit vote. Possibly it bit unjustified as their portfolio is nationwide, though partly exposed to London commercial property. Yield looking very attractive.

Possibly, HARRYCAT though the StockMarket fears that BrExit will move some Companies to down-grade any expansion plans - and some may leave!
The net result is that any deals "now" are UNlikely to be in the Property-Market's favour, as was the situation for many years.
LMP has many clients with good business models and in the short-term the ability to pay rents ( London-rents?), but over a few years there could be a minor fall-back.
Yet long-term UK will have to demonstrate this is a minor-glitch and our ability to work our passage in the World-Trade is "better for leaving".

Almost back to pre-Brexit level.

Numis today reaffirms its hold investment rating on LondonMetric Property (LON:LMP) and cut its price target to 150p (from 160p).

StockMarketWire.com
LondonMetric Property has sold a retail park in Warrington for £6.6 million, at a NIY of 5.4% and acquired an 89,000 sq ft distribution warehouse in Hemel Hempstead for £8.3 million, at a NIY 6.4%.

The Fordton retail park in Warrington comprises 20,200 sq ft and is let to Aldi, Greggs, Betfred, Barnardo's and Costa.

There is an adjoining pub which has recently been developed and sold off on a long leasehold.

The weighted unexpired lease term is 14.8 years. The sale is marginally ahead of March 2016 book value. In Hemel Hempstead, the recently refurbished distribution warehouse is located on Maylands Business Park, close to J8 of the M1 and J21A of the M25. The warehouse is let to ITAB, the shop concept company, at a rent of £6.24 psf and has an unexpired lease term of 8.3 years. The next rent review is in December 2019. Chief executive Andrew Jones said: "We continue to recycle equity from our mature retail parks into well located logistics assets, which we are confident will benefit from the ongoing structural changes impacting occupiers and deliver superior rental growth."

LONDONMETRIC £130 MILLION PRIVATE PLACEMENT

LondonMetric Property Plc ("LondonMetric" or "Company" or "Group") announces that it has entered into a £130 million private placement at a blended fixed rate coupon of 2.70% and a weighted average maturity of 8.3 years ("Private Placement").

The Private Placement was placed with US and UK institutional investors in three tranches:

· £65 million 2.62% Senior Notes due 2023;
· £40 million 2.72% Senior Notes due 2024; and
· £25 million 2.88% Senior Notes due 2028 ("Notes").

The proceeds of the Private Placement will be used to pay down some of the debt drawn under the Company's existing unsecured credit facility, which will remain available to draw in full. The Notes have the same financial covenants as the unsecured credit facility.

As a result of the Private Placement, the Group's weighted average debt maturity as at 30 September 2016 is expected to increase to 5.7 years.

Any views on this - increase in Debt? For a property Co whose assets last decades, I guess this is a means of raising capital ( against other property? ), which doesn't dilute retail-shareholders. This has been a reasonably proficient Co. and presumably "in time" this will shine through, although the sp has been somewhat "stuck" of late. Whilst "Brexit" may cause some loss of business like Head-Offices, -there is generally a rising demand for London Office-space and I can't see that falling too soon . . . esp as the life of buildings is approaching 100 years.
Currently 161p.

StockMarketWire.com
LondonMetric Property has acquired a distribution warehouse in Stevenage for £7.3m at a NIY of 6.25%. The 74,000 sq ft distribution warehouse is located immediately adjacent to the A1(M), on an established South East distribution park.

The unit is let to Dixons Carphone for a further 9 years at a rent of £6.50 psf with a break clause in 4 years.

Jefferies International today upgrades its investment rating on LondonMetric Property (LON:LMP) to buy (from hold) and left its price target at 172p.

StockMarketWire.com
LondonMetric Property has acquired eight 'last mile' distribution warehouses for £39.9 million at a blended yield of 6.2% and with a WAULT of 9.0 years.

Six of the distribution warehouses have been acquired from Helical for £26.0 million at a NIY of 6.5%. The 382,000 sq ft of warehouses are in established distribution locations and benefit from strong motorway connectivity and severely restricted levels of supply. The portfolio has a WAULT of 7.0 years and is let at a low average rent of £4.71 psf (ERV of £5.32 psf).

LondonMetric has also exchanged on a 53,000 sq ft distribution development in Crawley for £10.7 million at a yield on cost of 5.2%. The development has been pre-let to retailer Barker & Stonehouse for 15 years at a rent of £10.77 psf (ERV of £12.00 psf). Practical completion is expected in March 2017.

Furthermore, it has acquired a 30,000 sq ft distribution warehouse in Bicester for £3.2 million at a NIY of 5.9%. The warehouse is let to DPD Group with a WAULT of 9.5 years.

Chief executive Andrew Jones said: "These are important acquisitions as we continue to build critical mass within the 'last mile' distribution sector, which now extends to 19 assets across 1.2 million sq ft."

StockMarketWire.com
LondonMetric's EPRA earnings rose to £25.3m in the six months to the end of September - upf rom £23.4m last time - with net rental income up 8% to £39.7 million.

The group has declared a second quarterly interim dividend of 1.8p with scrip alternative. The dividend cover increased to 112% with further progression expected in final quarter.

Other highlights:
EPRA NAV of 143.0p (FY 16: 147.7p)

- Portfolio revaluation deficit1 of £23.0 million, contributing to a reported loss of £13.1 million

- Property total return of 1.5% compared to IPD of 0.2%, 130 bps outperformance � Portfolio valued at £1,482 million, core portfolio valuation fall of 1.1%

Distribution weighting up to 58.5% of portfolio

- £78.4 million of retail assets sold, reducing retail park weighting to 16.8%

- £32.2 million of distribution investments acquired, with a further £47.2 million post period end Income growth with structural support

- £4.0 million of new income secured from completed developments

- £2.0 million of additional income from 11 lettings and 22 rent reviews

- 1.9% like-for-like income growth on core portfolio

- Rent reviews at 4.8% above previous passing and new lettings at 2.1% above ERV

Short cycle development activity

- Post period end, terms agreed to let our 357,000 sq ft development in Warrington and 140,000 sq ft at our Stoke development. These two lettings represent £2.9 million additional rent

Portfolio metrics reflect income security, reliability and growth

- Occupancy of 98.5% and WAULT of 12.6 years (12.0 years to first break)

- 22% of rental income subject to RPI uplifts and 29% subject to fixed uplifts

Finances strengthened and diversified by £130 million private debt placement

- Net debt of £590.7 million (FY 16: £591.2 million) and undrawn facilities of £183.8 million

- Debt maturity of 5.7 years (FY 16: 5.6 years) and average cost of debt at 3.3% (FY 16: 3.5%)

Chief executive Andrew Jones said: "At a time when the political and economic outlook remains uncertain, investors are increasingly looking for predictable income returns with the security of capital preservation. We continue to focus on compounding our long and strong income and value highly the repetitive, reliable and secure nature of our rents which gives us confidence to deliver dividend progression.

"Our income is structurally supported by our investment in the winning sectors and we continue to draw on our deep occupier relationships to make the correct investment decisions and create value. We have continued to sell down our mature retail parks and have further sharpened our focus on the distribution sector which offers higher growth opportunities. In particular, we have grown our 'last mile' distribution portfolio where we are capitalising on attractive demand/supply dynamics arising from consumer delivery demands for instant gratification."

LONDONMETRIC AGREES LETTING OF ITS 357,000 SQ FT OMEGA SOUTH DISTRIBUTION WAREHOUSE

LondonMetric Property Plc ("LondonMetric") is pleased to announce that it has conditionally exchanged contracts to let its 357,000 sq. ft. development in Warrington.

The property has been let to a major international retailer on a new 15 year lease with contractual uplifts. The terms of the letting are in line with LondonMetric's original business plan.

The letting takes place within five weeks of successful completion of the development on 7 November 2016; on budget and on time. The agreement is expected to become unconditional in January 2017.

LondonMetric was advised by DTRE and Jones Lang LaSalle. The distribution warehouse was developed in conjunction with Miller Developments.

StockMarketWire.com
LondonMetric Property has acquired a regional distribution warehouse in Wakefield for £9.5m and a last mile distribution warehouse in Dartford for £6.3m; reflecting a blended NIY of 5.8% and a reversionary yield of 6.4%. At Wakefield, LondonMetric has acquired a well specified 120,000 sq ft regional warehouse located on a premier distribution park at J.31 of the M62, close to J.42 of the M1.

The warehouse is let for a further 6.2 years to One Stop Stores, a 100% owned subsidiary of Tesco. It serves the North of England and Scotland, which account for half of One Stop's 750 convenience store estate.

The next open market rent review is in April 2018.

At Dartford, LondonMetric has acquired a well specified 49,000 sq ft last mile warehouse on a prime distribution site 1.5 miles from J.1A of the M25.

The warehouse was built in 2003 and is let to Antalis, a major European paper and packaging distributor, on a new ten year lease with a break clause and a rent review in year five; the review is at the higher of open market and RPI.

Chief executive Andrew Jones said: "The urban logistics and convenience sectors continue to grow rapidly, as shopping patterns evolve and customers migrate towards internet and convenience shopping.

"The strong demand for well-located logistics assets is part of their ambition to meet increasing delivery demands."

StockMarketWire.com
LondonMetric Property has exchanged contracts with Eddie Stobart to build a single new 180,000 sq ft distribution unit at its logistics centre in Dagenham. Under the terms of the transaction, Eddie Stobart has signed a new 26 year lease across the enlarged 436,000 sq ft logistics centre at an increased rent, subject to five yearly RPI rent reviews.

LondonMetric said planning consent had already been received and construction was expected to commence next month with completion by April 2018.

LondonMetric said that as part of the redevelopment, two existing units totalling 150,000 sq ft would be demolished.

LondonMetric has also exchanged contracts with Michelin to build a new 137,000 sq ft distribution centre at its site in Stoke. It said that Michelin has signed a new 15 year lease at a rent of £5.35 psf, subject to five yearly reviews, at the higher of open market and guaranteed fixed uplifts.

The anticipated yield on cost was 6.3% and construction was expected to commence shortly, with completion by the end of 2017. LondonMetric said it would also look to build out the remaining c130,000 sq ft unit upon completion of the new Michelin accommodation.

And it said that at Omega South, Warrington, all conditions relating to the new letting of 357,000 sq ft to Amazon had been satisfied.

It said Amazon had taken occupation and signed a new 15 year lease with rent reviews linked to CPI.

StockMarketWire.com
LondonMetric Property has announced a placing of up to 62,804,390 new ordinary shares representing approximately 9.9% of the company's issued share capital.

The company said it intended to use the net proceeds to fund the acquisition of predominantly "last mile" distribution assets and to finance newly committed distribution developments. It said the proposed placing would raise approximately £97 million of gross proceeds (based on the closing share price on 22 March) and would enable the company to accelerate its portfolio alignment towards distribution by:

- increasing its exposure to the attractive returns available from last mile distribution

- building out three new developments following material progress on pre-lettings, which were announced separately today.

Liberum Capital Hold 155.30 155.00 155.00 Reiterates

StockMarketWire.com
LondonMetric's net rental income rose by 5% to £82m in the year to the end of March and EPRA earnings increased to £51.0m from £48.5m.

Chief executive Andrew Jones said: "On top of political and economic uncertainty, the World continues to be transformed by technological innovation and continuing social change.

"This is having a profound impact on real estate. The tectonic plates in retail are shifting and the industry is experiencing radical disruption driven by these trends.

"Retailers are closing marginal stores and investing in 'flagship' destinations and new supply chains to service ever-increasing online sales and consumer expectations.

"Retailers are prioritising distribution and fulfilment ahead of their stores, which is why we have repositioned LondonMetric's portfolio from retail into logistics.

"Logistics will soon represent more than 70% of our investments as our urban logistics portfolio grows further and our short cycle developments complete.

"In a low interest rate environment, investors are increasingly searching for reliable and repetitive income streams.

"Compounding our income returns is central to our strategy as we embrace the very purpose of a REIT. Our logistics focus has enhanced our portfolio's income characteristics and we believe that it is these structural calls that will help define the real estate winners."

Highlights:
- Dividend increased 3% to 7.5p for year, 109% dividend cover in year

- EPRA NAV of 149.8p (FY 16: 147.7p)

The group also announced the acquisition of three separate urban logistic warehouses in Crawley, Coventry and Huyton for £23.9 million.

The purchase price reflects a blended yield of 6.0% and a reversionary yield of 6.8%. The WAULT is 11.7 years.

JP Morgan Cazenove Overweight 168.95 175.00 175.00 Reiterates

Jefferies International Hold 168.95 170.00 185.00 Reiterates

Why is the divi total 1.84p and not 2.1p as stated in the finals?

Div should be 2.1p I think. Ex-divi 8th June 2017.

Shows the Divi at 2.1p still but have not recieved more than 1.84p. Anyone know whats happened?

Looking here, you should have received 1.3p on July 10th.

I recieved a bit on the 10th and a bit on the 12th. That is all!!!

StockMarketWire.com
LondonMetric Property has sold a further two DFS retail properties in Swindon and Swansea for £13.9m on behalf of the company's DFS joint venture.

The two properties formed part of a portfolio of 27 DFS assets acquired in 2014 for £175m at a NIY of 9.3%.

It said the sales reflected a blended NIY of 7.5% and were in excess of book value.

It said the JV had now sold a total of 17 stores for a total receipt of £114.6m and had delivered an IRR to its partners of 23% pert annum and a profit of over £50m.

StockMarketWire.com
LondonMetric Property has sold a Tesco's logistics warehouse in Bolton for £24.4m, reflecting a NIY of 5.35%.

The 274,000 sq ft regional warehouse was acquired as part of the £117 million Cabot logistics portfolio in August 2017 off a blended NIY of 6.1%.

The unit is let to Tesco for a further four years at a rental of £1.395 million pa, off £5.27 psf.

LondonMetric continues to retain the remaining 13 logistics assets from the Cabot portfolio of which 11 are urban logistics.

StockMarketWire.com
LondonMetric Property has exchanged on the sale of an Odeon Cinema in Derby and a retail asset in Guisborough for £18.6m reflecting a blended net initial yield of 4.8%.

At Derby, the 10 screen, 37,000 sq ft cinema formed part of a portfolio of 10 Odeon cinemas acquired in 2013 at an overall yield of 7.3%.

LondonMetric continues to own five Odeon cinemas with a WAULT of 21 years and rents that rise annually in line with RPI between 1%-5%. At Guisborough, the 26,000 sq ft scheme is let to Aldi and Iceland for a further 12 years and was acquired in 2014 at a NIY of 5.8%.

The sales reflect a 15% premium to the March 2017 valuation and materially above the latest valuation.

StockMarketWire.com
LondonMetric's net rental income rose 12% to £44.5m inthe six months to the end of September, reflecting deployment of its equity raise and portfolio activity.

EPRA earnings rose 14% to £28.8m, (up 5% on a per share basis) and the reported profit of £79.6m compared with loss of £13.1m last time was driven by a £52.8m revaluation surplus reflecting a 3.2% uplift.

Other highlights:
- Dividend increased 3% to 3.7p, 114% dividend cover

* Second quarterly interim dividend declared of 1.85p

-EPRA NAV up 4% to 155.7p (FY 17: 149.8p)

* Portfolio valued at £1,705m1, topped up NIY of 5.2%

* Total property return of 6.1% compared to IPD All Property of 5.0%

* Total accounting return of 6.6%

Chief executive Andrew Jones said: 'Our primary goal is to allocate capital into those sectors of real estate that will generate high quality, sustainable income growth from structural changes and management actions.

'Today, almost 70% of our portfolio is allocated to the distribution sector with the balance mainly invested in long income and convenience retail; both areas that are benefiting from the changes taking place in consumer shopping habits.

'Our decision a number of years ago to pivot into these winning sectors was driven by the impact of technology on shopper behaviour.

'We were early movers into both these sectors and this is reflected in our strong financial numbers. We have performed across every key financial measure, increasing our income, earnings, profits, dividend and NAV whilst maintaining our strong portfolio metrics.

'The desperate search for yield globally is continuing to drive investor demand for income backed real estate. Our approach of patiently collecting and compounding our income remains front and centre of our strategy, and this is exactly what a REIT was designed to do.'

LondonMetric also announced the acquisition of two logistics warehouses for £47.6 million, reflecting a blended NIY of 5.0% rising to a minimum of 5.6% after five years.

The average lease length is over 18 years.

At Ollerton in Nottinghamshire, LondonMetric has agreed to acquire a 364,000 sq ft regional warehouse let to Clipper Logistics plc on a 20 year lease, at a rent of £5.04 psf, subject to annually payable RPI uplifts of between 2 - 4%.

At Speke, LondonMetric has acquired a new 132,000 sq ft regional logistics warehouse let to Gefco, on a new 15 year lease, at a rent of £5.17 psf subject to five yearly RPI linked reviews of between 2 - 4%.

divi is declared I notice but not in forward diary. Why?

It was only declared this morning, give it time.

I'll slow up george its christmas.

LondonMetric Property Plc will announce its full year results for the period ending 31 March 2018 on Wednesday 30 May 2018.

There will be a presentation for analysts at 9.00am on the morning of the results. For details of the meeting, please contact FTI Consulting.

StockMarketWire.com
LondonMetric said Thursday it plans to sell four distribution and two industrial warehouses for £36.0m to Pacific Industrial & Logistics REIT, reflecting a blended net interest yield of 5.9%.

This sale would represent a profit of £5.3m with an ungeared internal rate of return of 15% per annum.

The assets were sold to Pacific Industrial & Logistics REIT in two portfolios and the sale was said to be conditional on completion of its recently announced fundraising.

Completion of the disposals were delayed by three and five months respectively, LondonMetric said, allowing the firm to continue to receive circa £700K of additional rent.

'As evidenced by our recent acquisitions we remain focused on growing our logistics exposure, however we will always react to attractive off market approaches which offer our shareholders superior value. This transaction monetises our older and shorter let distribution assets in geographies where we believe rental growth is less certain,' said Andrew Jones, Chief Executive of LondonMetric.

Numis today reaffirms its hold investment rating on LondonMetric Property (LON:LMP) and raised its price target to 181p (from 172p).

Following day 05/06/18
Numis today reaffirms its hold investment rating on LondonMetric Property (LON:LMP) and raised its price target to 187p (from 181p).

StockMarketWire.com
LondonMetric Property said Wednesday it had acquired ten single let properties from the ACT Foundation for £55.0m.

The purchase price reflected a day one blended net interest yield of 4.4% and a reversionary yield of 5.3%, the company said.

The ten single let property portfolio consisted of nine urban logistics assets - 50% are located in London and the South East with a further 35% located in the Midlands - totalling 340,000 sq ft and a retail store let to Wickes for a further 14 years.

The portfolio generated income of £2.6m per annum and the average rent was £6.90 per square foot, which is significantly below ERV of £8.10 psf, the company said.

'The portfolio is fully income generating, offers good opportunities to capture strong income growth and increases our urban logistics portfolio to approximately £400m,' said Andrew Jones, Chief Executive of LondonMetric.

JP Morgan Cazenove today reaffirms its neutral investment rating on LondonMetric Property (LON:LMP) and raised its price target to 210p (from 200p).

StockMarketWire.com
LondonMetric said Monday that it had sold two M&S convenience stores for £10.7m, reflecting a net interest yield of 4.5%, and purchased a convenience development in Durham pre-let to Lidl for £13.3m, reflecting a yield on cost of 5.4%.

The two M&S stores that had been sold were purchased by LondonMetric in 2015 for £7.7m at a blended yield on cost of 5.9%, delivering an ungeared internal rate of return of 17% per annum.

The 58,000 sq ft convenience development in Durham had been acquired by a forward funding contract with Kier Property.

The convenience development is pre-let to Lidl for 20 years, at £13 psf, and would generate £0.8m of income per annum, 40% of which is expected to be RPI linked.

LondonMetric would benefit from a 5.5% funding coupon during construction, which is expected to be completed in the first half of 2019.

'The market for long, secure and growing income remains highly competitive, and the convenience sector continues to be well supported by shifting consumer shopping patterns,' said Andrew Jones, Chief Executive of LondonMetric

Peel Hunt Add 183.80 205.00 - Reiterates

Little gap on the chart. I have some funds seeking a home, so might put on a buy at 180p. Support from the 200 DMA also.

FWIW, I understand their focus is now on larger premises, like Warehousing and out-of-town Zones.
IMHO these are the future in Retail, as folks choose On-Line, or spend a day looking.
For on-line, there has to be Distribution and that means some form of automated warehouse ( so they can't move very easily!), it also means good Road/Rail/Airport links which LMP is well aware of. A mixture of Larger and some smaller distribution areas would seem to be a vital mix to keep each Company "sweet" while offering them some "Flexibility" as their customers' product-demand will change.

TWO URBAN LOGISTICS ACQUISITIONS FOR £24M

ACQUISITION OF TWO URBAN LOGISTICS WAREHOUSES FOR £24 MILLION

LondonMetric Property Plc ("LondonMetric") announces the acquisition of two urban logistics warehouses for £23.5 million, reflecting a blended NIY of 4.9% and rising to 5.6% after five years. The average lease length is 13 years.

A 48,000 sq ft warehouse has been acquired in Avonmouth, let to CHEP at a rent of £0.7 million pa, subject to annual RPI linked reviews of between 2 - 4%. CHEP is a global leader in pallet supplies and distribution, and is part of the Brambles Group. The warehouse was built in 2012 and has a very low site density of 14%, providing future optionality for further development. It is located on Central Park, the South West's largest distribution park.

An 80,000 sq ft warehouse has been acquired in Cambridgeshire, let to Cambridge Commodities at a rent of £0.5 million pa, subject to five yearly RPI linked reviews of between 2 - 4%. Cambridge Commodities provides nutritional ingredients to the sports, health, animal and food industries. The newly built warehouse is located on an established business park occupied by tech and R&D focused companies.

Andrew Jones, Chief Executive of LondonMetric, commented:

"These two modern warehouses are fully income generating, let for an average of 13 years to established occupiers and benefit from guaranteed rental growth.

"Following these acquisitions, our urban logistics portfolio is approximately £420 million and we will continue to take advantage of selective opportunities to grow our urban logistics portfolio above £500 million in the near term."

LondonMetric was advised by Knight Frank at Avonmouth and by FSP at Cambridgeshire.

-Ends-

Liberum Capital today reaffirms its hold investment rating on LondonMetric Property (LON:LMP) and cut its price target to 180p (from 200p).

SALE OF MARTLESHAM HEATH RETAIL PARK FOR £22M

LondonMetric Property Plc ("LondonMetric") announces that it has sold its retail park in Martlesham Heath, Ipswich, for £22.0 million, reflecting a NIY of 5.2%.

The 48,000 sq ft retail park was acquired in 2013 for £10.4 million. LondonMetric has executed a number of asset management initiatives during its ownership, which have helped attract new retailers such as Hobbycraft, Mountain Warehouse, Card Factory, Shoe Zone and Poundland, whilst existing tenant M&S, recently extended its foodhall to 20,000 sq ft on a new 15 year lease.

The park is fully let off average rents of £25.70 psf with a weighted average lease term of 12 years to expiry and 10 years to first break.

The property has generated a profit on cost of 40% and an ungeared return of 13% pa. The sale is to a long-term investor and reflects a premium to March 2018 book value.

Andrew Jones, Chief Executive of LondonMetric, commented:

"Whilst demand for physical retail assets continues to polarise rapidly, investor appetite for long and strong income remains healthy. The sale is in line with our strategy of divesting our last remaining operational retail assets upon completion of their business plans. We retain three retail parks within our direct portfolio reflecting 5% of our assets.

"Our investments will continue to target high quality opportunities within the logistics and convenience sectors where income certainty is greater and income growth prospects are superior."

19 Nov 2018 Peel Hunt Add 186.90 190.00 Reiterates

19 Nov 2018 Liberum Capital Hold 186.90 180.00 Reiterates

28 November 2018 Half Year Results Announcement

StockMarketWire.com
LondonMetric said Wednesday first-half profits were roughly flat compared with a year earlier even as a rise in net rental income boosted earnings growth.

For the six months ended 30 September, pre-tax profits fell to £79.3m from £79.6m a year earlier, while net rental income was up 5.8% to £47.1m boosting earnings -- stated as EPRA net asset value per share to 172.1p a share, up 6.6% from a year earlier.

The portfolio delivered a total property return of 5.4%, significantly outperforming the IPD All Property return of 3.3%, the company said.

The company's property portfolio was also bolstered by a revaluation gain surplus of £51.0m, reflecting a 2.7% uplift, with urban logistics increasing by 4.5%, LondonMetric added.

The dividend was increased by 2.7% to 3.8p a share.