LondonMetric Property (GB:LMP) has released an update.
LondonMetric Property PLC has strategically expanded its portfolio through the acquisition of six urban logistics properties for £78 million, promising an initial yield of 5.8% with potential growth to 6.9% in two years. These properties, leased to reputable tenants with a strong average lease of 10 years, are expected to generate a significant income increase from £4.8 million to £5.8 million annually. Concurrently, the company continues to divest from non-core assets, recently selling an office asset in Edinburgh, marking the 14th of 16 planned disposals at favorable profit margins.
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