LondonMetric eyes dividend increase as net rental income climbs

(Alliance News) - LondonMetric Property PLC on Thursday reported a strong portfolio performance and asset activity amid net rental income growth and a planned higher dividend.

The London-based real estate investment trust, which focuses on logistics, healthcare, convenience, entertainment and leisure properties, said its GBP7.6 billion triple-net lease portfolio continues to perform well, supported by favourable real estate sector thematics and strong occupier demand.

Net rental income rose around 16% to over GBP450 million in the financial year ended March 31, compared to GBP390.6 million the firm reported for financial 2025. Occupancy stood at 98% and like-for-like income growth of 4.2%. The average lease length was 17 years, lower than 19 years in financial 2025.

LondonMetric expects to increase its annual dividend by 3.8% to 12.45 pence from 12.00p, marking its eleventh consecutive year of growth.

During the year, the group sold 57 assets for GBP318 million at a blended net initial yield of 5.7%, as part of ongoing non-core disposals. It also completed 35 direct investments totalling GBP333 million, alongside acquisitions through merger & acquisition activity.

Chief Executive Officer Andrew Jones said: "Despite macro uncertainty, volatile bond yields and reduced liquidity, we have continued to improve the quality of the portfolio with some excellent disposals and acquisitions. Our all-weather portfolio continues to deliver excellent income growth as we benefit from our alignment to the winning sectors. We are reaping the rewards of this strategy, and it is wonderfully comforting to see our rental income flowing and growing to record levels. This continued income compounding is enabling us to deliver our eleventh consecutive year of dividend progression."

LondonMetric will publish full-year results on May 21.

LondonMetric shares rose 1.2% to 194.08 pence each on Thursday morning in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2026 Alliance News Ltd. All Rights Reserved.

LondonMetric