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Sign in Sign up for a FREE subscriptionEQT Exeter buys U.K. warehouse for €119m
LondonMetric Property has exchanged on the sale of its distribution warehouse in Thrapston, Northamptonshire, England, to EQT Exeter for £102 million (€119.6 million/$140 million).
The 785,000-square-foot warehouse is let to Primark for another 11 years.
Andrew Jones, chief executive of LondonMetric, said, “This is a very good asset that has performed strongly, delivering a total return of £76 million [€89 million/$104 million] since acquisition. The sale price achieved reflects a very competitive bidding process and highlights the depth of demand for well-let logistics assets delivering reliable, repetitive and growing income.”