LondonMetric Property has acquired two properties for a total consideration of €80.6 million ($90.37 million).
The first asset, purchased via a €68.5 million ($76.8 million) sale and leaseback, comprises a portfolio of five food stores let to Waitrose on new 20-year leases with CPIH-linked rent reviews. Located in Keynsham, Malmesbury, Paddock Wood, Towcester and Yateley, the stores range in size from 27,000 square feet up to 43,000 square feet and also operate as online fulfillment centers for both Waitrose and John Lewis. Waitrose will continue to trade from the stores as normal with no change, from a customer or Waitrose Partner perspective.
LondonMetric has also purchased a 32,000-square-foot urban logistics unit in Walthamstow for €12.1 million ($13.57 million) let to Ocado. The property is a prime, modern and well-configured unit located on a two-acre site with low site density. It is let for a further eight years, and passing rent is 20 percent to 2
