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LondonMetric sells RM distribution warehouse

02 October 2017 07:46

LondonMetric Property has exchanged on the sale of a Royal Mail distribution warehouse in Daventry to Tritax Big Box REIT plc for £48.8m, reflecting a NIY of 5.0%.

LondonMetric acquired the bespoke 272,000 sq ft warehouse in 2014 for £36.0m, reflecting a NIY of 6.7%.

It generates income of £2.6 million pa and has an unexpired lease term of 6 years.

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