LondonMetric buys 10 single-let properties for £55m

LondonMetric Property announced the acquisition on Wednesday of ten single-let properties for £55m from the ACT Foundation. The portfolio consists of nine urban logistics assets totalling 340,000 sq ft and a retail store let to Wickes for another 14 years. The assets are situated in established distribution locations, with around half in London and the South East and a further 35% in the Midlands. The purchase price reflects a day one net initial yield of 4.4% and a reversionary yield of 5.3%. ...

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