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LondonMetric Property PLC - London-headquartered real estate investment trust - Announces the sale of various non-core and mature assets for £61.8 million, in separate transactions at a blended net initial yield of 6.1%. Says all assets were previously acquired through corporate acquisitions. They comprise, firstly, a multi-storey car park in Yorkshire let to Q-Parks and four pubs let to Stonegate, sold for £21.7 million at a blended NIY of 7.7%. Secondly, a multi-let industrial estate in Crawley was purchased for £21.4 million at a NIY of 5.05%. Thirdly, LondonMetric sold two retail assets let to Lidl and Wickes for £10.1 million at a blended NIY of 5.8%. Lastly, an occupier acquired a logistics unit in Southampton for £8.6 million at a NIY of 4.8%. Company says disposals are in line with prevailing book values and 10% above the assets’ allocated prices at the time of purchase. ‘We continue to execute on our strategy of selling down non core and mature assets with a further series of excellent disposals,’ says Chief Executive Andrew Jones. ‘The proceeds from the sales will be re-invested into sectors and assets that offer better income reliability and growth.’ Current stock price: 187.30 pence, down 0.4% on Wednesday morning in London 12-month change: down 7.6% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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