The latest update is out from LondonMetric Property ( (GB:LMP) ).
LondonMetric Property Plc has announced the sale of £40.4 million worth of mature and non-core urban warehousing assets, achieving a net initial yield (NIY) of 4.3%. The strategic and opportunistic sales, which include warehouses in London, Birmingham, and Aberdeen, align with book values and have delivered a profit on cost of 30% and an ungeared internal rate of return (IRR) of 10%. The proceeds from these sales will be reinvested into core sectors with superior income and rental growth prospects, strengthening LondonMetric’s focus on high-performing assets.
More about LondonMetric Property
LondonMetric is the UK’s leading triple net lease REIT with a £6 billion portfolio focused on logistics, healthcare, convenience, entertainment, and leisure sectors. The company specializes in owning and managing real estate that meets occupiers’ demands and delivers reliable, repetitive, and growing income-led returns.
YTD Price Performance: 1.34%
Average Trading Volume: 6,064,745
Technical Sentiment Signal: Buy
Current Market Cap: £3.67B
For a thorough assessment of LMP stock, go to TipRanks’ Stock Analysis page.