StockMarketWire.com - Property investor LondonMetric Property said it had sold a portfolio of six distribution warehouses for £57.3m to Canmoor and Canadian institutional investor, AIMCo.

The properties were let to retailer Hamleys, CEVA, ITAB, Transmec and Groupo Antolin, an automotive supplier to JLR, the company said.

The sale reflected a blended net initial yield of 5.3%.

LondonMetric Property pocketed an £8.8m profit on cost and an ungeared return of 11% a year.

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