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LondonMetric acquires two M&S stores for £24.6m

13 July 2017 07:40

LondonMetric Property has acquired two M&S stores in Newport, Isle of Wight,and Kendal, Lancashire, for £24.6 million, reflecting a NIY of 5.45%. LondonMetric said the two edge of town centre properties were let to Marks & Spencer at a total rent of £1.4 million per annum, subject to annual rental uplifts of 2%. The existing lease runs for a further ten years.

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