LondonMetric Property Plc has announced that it has sold £61.8 million of non core and mature assets in separate transactions at a blended NIY of 6.1%.
The assets sold were previously acquired through corporate acquisitions and comprise:
- A multi-storey car park in Yorkshire let to Q-Parks and four pubs let to Stonegate, sold for £21.7m at a blended NIY of 7.7%
- A multi-let industrial estate in Crawley, sold for £21.4m at a NIY of 5.05%
- Two retail assets let to Lidl and Wickes, sold for £10.1m at a blended NIY of 5.8%
- A logistics unit in Southampton, sold to an occupier for £8.6m at a NIY of 4.8%
LondonMetric also reported that it has has now sold 54 former LXi assets for £202m, with its prevailing book values and are 10% above their allocated price at the time of purchase.
Chief executive of LondonMetric Andrew Jones said: “We continue to execute on our strategy of selling down non core and mature assets with a further series of excellent disposals.
“The proceeds from the sales will be re-invested into sectors and assets that offer better income reliability and growth.”
