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LondonMetric Property PLC - London-based real estate investment trust focuses on logistics, healthcare, convenience, entertainment and leisure properties - Sells two ‘mature’ out-of-town retailing properties for £64.4 million and buys new warehouse properties for £26.2 million. Sells Cantium retail park in south east London occupied by B&Q, Pets at Home and other brands for £48.5 million, with LondonMetric’s share of this £33.5 million. Also sells a retail property in Weymouth, England housing a Marks & Spencer store for £15.9 million. Buys two warehouses let to food wholesaler Booker. They are a logistics warehouse in Doncaster for £16.9 million and a Booker Cash & Carry in Southend-on-Sea for £9.3 million. B&Q is owned by Kingfisher PLC and Booker by Tesco PLC. LondonMetric doesn’t name the counterparties in the transactions. It says the retail assets are sold at a net initial yield of 4.98%, while the purchased warehouses have a yield of 6.90%. ‘Following strong approaches for high-quality, long-income product, we have decided to monetise two mature assets where we have completed on our business plans,’ explains Chief Executive Andrew Jones. Current stock price: 184.86 pence 12-month change: up 3.3% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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