LondonMetric Property, a FTSE 250 REIT that owns one of the U.K.’s leading listed logistics platforms alongside a diversified long income portfolio, has sold four assets in two separate transactions for £25.6 million ($31 million).
The transaction involves a portfolio of three multi-let industrial assets totaling 53 units across 235,000 square feet, located in Halesowen and Aston, Birmingham. The properties were sold to The Ardent Companies U.K. for £21.6 million ($26 million). They were acquired by LondonMetric in 2019 as part of the Mucklow acquisition.
The deal also involves a roadside asset in Stamford Hill, London, which has been sold for £4 million ($4.8 million). The property is leased to TG convenience for an additional 19 years.
“We have continued to react to market interest for our assets and, despite the current macro uncertainty, have achieved strong sales that crystalize attractive returns,” said Andrew Jones, CEO of LondonMetric. “This a