LondonMetric Property PLC DISPOSAL OF LEEDS RETAIL PARK FOR GBP25.2M (9225H)
09 Agosto 2021 - 08:00AM
UK Regulatory
TIDMLMP
RNS Number : 9225H
LondonMetric Property PLC
09 August 2021
9 August 2021
LONDONMETRIC PROPERTY PLC
LONDONMETRIC SELLS ITS RETAIL PARK IN LEEDS FOR GBP25.2
MILLION
LondonMetric Property Plc ("LondonMetric") announces that it has
sold its retail park in Kirkstall, Leeds, for GBP25.2 million, to a
UK institutional investor.
The 120,000 sq ft Kirkstall Bridge Shopping Park was developed
by LondonMetric in 2015 after acquiring the site in 2011.
Following the recent re-letting of a 21,000 sq ft unit to The
Range, the 18 unit park is fully let to occupiers including Home
Bargains, Smyths Toys, Iceland, Pets at Home and JD Sports, with a
WAULT of 8 years (6 years to first break).
The sale price represents a 15% premium to the 31 March 2021
book valve and crystallises a total return on cost of 27%.
Completion of the sale will take place at the end of September
2021.
Andrew Jones, Chief Executive of LondonMetric, commented:
"This is a strong trading retail park and its sale is in line
with our strategy to divest our last few remaining multi let retail
parks. We have seen an uptick in investor interest for well let and
located retail parks which is reflected in the sale price
achieved.
"Our strongest conviction calls remain urban logistics and
convenience led long income and the sale proceeds will be allocated
into these sub-sectors."
LondonMetric was advised by Morgan Williams and Avison Young.
The purchaser was advised by Bruce Gillingham Pollard.
-Ends-
For further information, please contact:
LondonMetric Property Plc
Andrew Jones / Martin McGann
Tel: +44 (0) 20 7484 9000
FTI Consulting
Dido Laurimore / Richard Gotla / Andrew Davis
Tel: +44 (0) 20 3727 1000
About LondonMetric Property Plc
LondonMetric is a FTSE 250 REIT that owns one of the UK's
leading listed logistics platforms alongside a diversified long
income portfolio, with 16 million sq ft under management. It owns
and manages desirable real estate that meets occupiers' demands,
delivers reliable, repetitive and growing income-led returns and
outperforms over the long term.
Further information is available at www.londonmetric.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DISDKABPCBKDFFK
(END) Dow Jones Newswires
August 09, 2021 02:00 ET (06:00 GMT)
Grafico Azioni Londonmetric Property (LSE:LMP)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Londonmetric Property (LSE:LMP)
Storico
Da Mar 2023 a Mar 2024