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Pin to quick picksLondonMetric Share News (LMP)

Share Price Information for LondonMetric (LMP)

London Stock Exchange
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Share Price: 226.60
Bid: 226.80
Ask: 227.00
Change: 0.60 (0.27%)
Spread: 0.20 (0.09%)
Open: 227.00
High: 229.20
Low: 226.40
Yest. Close: 226.00
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LondonMetric makes £22.2m from disposals

Thu, 15th Oct 2020 09:23

(Sharecast News) - LondonMetric Property said on Thursday that it has sold four retail properties from its long income portfolio for £22.2m and bought three convenience stations for £10.8m.
The disposals reflect a blended net initial yield of 4.6%, while the acquisitions reflect a NIY of 4.7%.

The company has sold has sold two M&S food stores to a local authority for £14.68m in Haslemere and Ferndown, while in Leicester, a standalone Matalan unit has been sold to private investors for £3.4m.

On the Isle of Man, a property occupied by Boots and Spar has been sold to a local purchaser for £4.1m.

Separately, LondonMetric has acquired three BP/M&S convenience service stations in Brentwood, Pevensey and Lewes. The portfolio is let to BP for another 16 years and generates a rent of £0.54m a year, with fixed rental uplifts. LondonMetric said vacant possession value is materially above the purchase price.

Chief executive Andrew Jones said: "In a zero interest rate environment, well-let real estate continues to be in demand and so we have reacted to attractive offers to monetise select assets, including further non-core properties acquired through the Mucklow deal.

"These are all good sales which, together with our latest acquisition of three quality assets let to BP, improves our income granularity, lease lengths and credit whilst providing better certainty of income growth and geographical focus."

More News

LondonMetric buys three urban logistics warehouses for £19m

(Sharecast News) - LondonMetric Property has bought three urban logistics warehouses for £18.7m.

14 May 21 07:34

LondonMetric completes £780m of new debt

(Sharecast News) - LondonMetric has completed its £380m private debt placement, with a blended maturity of 11.1 years and a blended coupon of 2.27%.

4 May 21 10:21

LondonMetric sells two properties for combined £11.1m

(Sharecast News) - LondonMetric Property has sold two properties let to Marks & Spencer and Wickes in Derby for a combined £11.1m to unnamed buyers.

23 Apr 21 07:01

LondonMetric reports strong rent collection

(Sharecast News) - LondonMetric said it collected 98% of March rents and that rent collection was strong across all sectors.

19 Apr 21 07:07

LondonMetric sells 5 non-core office and retail assets for £38.5m

(Sharecast News) - LondonMetric Property said on Monday that it has sold five non-core office and retail assets for a combined £38.5m, its share of which is £28m.

12 Apr 21 07:37

LondonMetric prices £380m placement to replace existing debt

(Sharecast News) - LondonMetric Property has priced a £380m private debt placement with a number of institutional investors in North America and the UK, it announced on Thursday, to replace existing debt facilities.

25 Mar 21 07:44

LondonMetric buys two properties for £31.2m

(Sharecast News) - LondonMetric Property said it had bought two warehouses in Milton Keynes for a total of £31.2m.

16 Mar 21 09:06

LondonMetric sells portfolio of six retail assets

(Sharecast News) - LondonMetric Property has sold a portfolio of long income assets to S&P 500 real estate investment trust Realty Income for £40.9m, it announced on Thursday, reflecting a blended net initial yield of 5.9%.

11 Mar 21 07:35

LondonMetric acquires seven service stations across three transactions

(Sharecast News) - LondonMetric has acquired £21.9m of convenience service stations across three separate transactions, it announced on Tuesday, reflecting a blended net initial yield of 5.1%.

2 Feb 21 08:52

LondonMetric buys two new warehouses in Manchester and Birmingham

(Sharecast News) - LondonMetric Property announced the acquisition of two urban logistics warehouses in Manchester and Birmingham on Tuesday, for £39m, reflecting a blended yield on cost of 4.25%.

12 Jan 21 09:09

Director dealings: Londonmetric chairman lowers stake

(Sharecast News) - Londonmetric revealed on Thursday that chairman Patrick Vaughan had disposed of 500,000 ordinary shares in the FTSE 250-listed property company.

17 Dec 20 15:49

LondonMetric leases Tyseley development to mystery retailer

(Sharecast News) - Property group LondonMetric has leased its Tyseley development near Birmingham to an unnamed retailer on a new 15-year lease at an annual rent of £1.6m.

8 Dec 20 08:15

Monday broker round-up

(Sharecast News) - DWF Group: Liberum initiates at hold with a target price of 90p.

23 Nov 20 13:28

LondonMetric ups dividend after strong rent collection

(Sharecast News) - LondonMetric increased its dividend as the property company reported strong rent collection and higher revenue in the first half.

19 Nov 20 07:44

LondonMetric makes £22.2m from disposals

(Sharecast News) - LondonMetric Property said on Thursday that it has sold four retail properties from its long income portfolio for £22.2m and bought three convenience stations for £10.8m.

15 Oct 20 09:23

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