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LondonMetric sells two properties for ?11.6m

By Duncan Ferris

Date: Monday 14 Oct 2019

LondonMetric sells two properties for ?11.6m

(Sharecast News) - LondonMetric on Monday said it had sold two properties for a total of £11.6m, with both sales representing material premiums to the properties' book value.

The real estate investor sold a 21,000 square foot office in Leicester for £5.7m at a net initial yield (NIY) of 6.0% and 84,000 square foot Doncaster distribution warehouse for £5.9m at a NIY of 7.0%.

The Leicester building had come with through the £415m purchase of Mucklow in May. LondonMetric added that discussions are ongoing for more disposals from its office portfolio.


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