StockMarketWire.com - London Metric Property exchanged contracts to let two logistics warehouses across 138,000 square feet at its Bedford Link Logistics Park.

The largest warehouse of 107,000 square foot had been let to a 'major US automation & technology business and the other 31,000 square foot warehouse has been let to Workstories, a commercial furniture wholesaler,' the company said.

Both warehouses had been let on 15 year leases at an average rent of £7.25 per square foot and would generate £1.0m of rent per annum, with 76% of income subject to inflation linked uplifts.

Construction works would complete shortly and the development was expected to deliver a yield on cost of 6.4%. The first phase of the development was now 73% pre-let with one 50,000 square foot warehouse remaining to be let.


At 8:32am: [LON:LMP] LondonMetric Property share price was +1.1p at 204.9p



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