LondonMetric has bought three distribution warehouses for £21.8m – a 6.6% yield.
The warehouses are in Castle Donington, Leicestershire; Royston, Hertfordshire; and Hemel Hempstead, Hertfordshire, and are let to toy retailer Hamleys, Howdens and Goodrich respectively for a total of £1.5m pa. They have an average WAULT of 12.4 years.
The acquisitions, which were bought from private vendors, will be funded from the company’s existing resources.
Andrew Jones, chief executive of LondonMetric, said: “These acquisitions reflect our increasing investment into smaller logistic depots serving major conurbations.”
LondonMetric was advised by CBRE, Dowley Turner Real Estate and David Baroukh Associates.
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