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  5. LondonMetric sells two assets for £28.2m

Pin to quick picksLondonMetric Share News (LMP)

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Share Price Information for LondonMetric (LMP)

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Share Price: 199.40
Bid: 199.20
Ask: 199.60
Change: -5.80 (-2.83%)
Spread: 0.40 (0.201%)
Open: 205.40
High: 205.60
Low: 199.40
Prev. Close: 205.20
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LondonMetric sells two assets for £28.2m

Tue, 01st Nov 2022 08:21

(Sharecast News) - LondonMetric Property said it had sold two assets for a combined £28.2m reflecting a blended net net initial yield (NIY) of 4.6%.

The separate transactions are made up of a fully-let retail park in Tonbridge, Kent for £22m, reflecting a NIY of 5.25%, and a warehouse in Digbeth, Birmingham, for £6.2m.

LondonMetric said the sales were 1% below its March 31 book value and crystallise an ungeared internal rate of return of 14%. Proceeds will be used in the short term to pay down some of the company's revolving credit facility, it added.

Reporting by Frank Prenesti for Sharecast.com

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