StockMarketWire.com - LondonMetric Property said it had sold an office and a distribution warehouse for a combined £11.6m at material premiums to book value.
The 21,000 square foot office, located in Leicester and let for a further nine years to My Home Move, was acquired through the Mucklow acquisition and had been sold for £5.7m at a net initial yield (NIY) of 6.0%, the company said.
The 84,000 square foot distribution warehouse, located in Doncaster and let to Croda for a further two years, had been sold for £5.9m at a NIY of 7.0%. It was acquired in August 2017 and had delivered an ungeared internal rate of return of 11% a year.
Story provided by StockMarketWire.com
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