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.



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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.