StockMarketWire.com - Real Estate company LondonMetric Property said it had acquired a cold storage and logistics warehouse development located at Alconbury Weald, Huntingdon for £53.4 million.

The building wa pre-let on a 25 year lease to AM Fresh group, an international agri-tech company that supplied the majority of UK supermarkets with a range of items including fruits, plant-based fresh goods and flowers.

The rent of £2.0 million per year equating to a £6.70 per square foot and was subject to five yearly CPI+1 linked reviews, at an acquisition yield of 3.7%, which was expected to rise to 4.3% at the next review.

The property would be fitted out with robotics and automation and include an innovation centre and incubator for agri-tech R&D, the company said.




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