Last checked at 14 Dec 2016 07:00
14 December 2016
LONDONMETRIC AGREES LETTING OF ITS 357,000 SQ FT
OMEGA SOUTH DISTRIBUTION WAREHOUSE
LondonMetric Property Plc ("LondonMetric") is pleased to announce that it has conditionally exchanged contracts to let its 357,000 sq. ft. development in Warrington.
The property has been let to a major international retailer on a new 15 year lease with contractual uplifts. The terms of the letting are in line with LondonMetric's original business plan.
The letting takes place within five weeks of successful completion of the development on 7 November 2016; on budget and on time. The agreement is expected to become unconditional in January 2017.
LondonMetric was advised by DTRE and Jones Lang LaSalle. The distribution warehouse was developed in conjunction with Miller Developments.
For further information, please contact:
LondonMetric Property Plc
Andrew Jones / Martin McGann
Tel: +44 (0) 20 7484 9000
About LondonMetric Property Plc
LondonMetric is a FTSE 250 REIT (ticker: LMP) that aims to deliver attractive returns for shareholders through a strategy of increasing income and improving capital values. It invests across the UK in retail led distribution, out of town and convenience retail properties with a total of 12 million sq ft under management, the majority of which is in distribution. It employs an occupier-led approach with a focus on strong and growing income, asset management initiatives and short cycle development. LondonMetric works closely with retailers, logistics providers and leisure operators to help meet their evolving real estate requirements.