StockMarketWire.com - Real estate company LondonMetric Property said it had acquired two logistics warehouses for £135.6 million in separate transactions, reflecting a blended NIY of 4.2% and a reversionary yield of 4.8%.

The properties generated a rent of £6.0 million annually, with 100% of the income benefiting from RPI linked rent reviews.

The 700,000 square foot property was acquired for £97.0 million, and completion was expected to occur in January 2022.

The 296,000 sq ft warehouse was acquired for £38.6 million and pre-let to a rapidly expanding e-commerce company, on a 20 year lease at a rent of £1.9 million annually.

The warehouse was located at Port One Logistics Park, Ipswich, and development was expected to be completed in spring 2022.






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