LondonMetric Property has bought two retail warehouses through its Metric Income Plus Limited Partnership joint venture with Universities Superannuation Scheme.
It bought a B&Q warehouse in Hull and a Wickes warehouse in Dartford for a total of £18.4m, with purchases costs evenly divided.
The 71,000 sq ft Hull warehouse was bought from Stobart Group and Roebuck Asset Management for £9.4m, a yield of 7.5%.
The 40,000 sq ft Wickes in Dartford was bought from a private investor at a yield of 6.2%.
MIPP was advised by Knight Frank on both deals and also by Beaton Associates on Dartford. Edgerley Simpson Howe represented Stobart and Roebuck.
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