LondonMetric has sold five assets for a total of £42.8m.
The sales, in line with its March book value, reflect a net initial yield of 4.5%.
The assets include a 58,000 sq ft retail warehouse in Durham let to Lidl and The Range, sold for £14.1m; a 28,000 sq ft urban warehouse in Croydon let to HTC, sold for £8.1m; and a long-income property located close to London Bridge, sold for £3.1m.
The other two assets are a 38,000 urban warehouse estate in Croydon and an 18,000 sq ft asset in Oxford, which have been sold as a portfolio for £17.5m.
Total sales since 31 March 2023 amount to £64m and are at a 1% premium to the 31 March book value.
Chief executive Andrew Jones said: “We continue to see good liquidity for our assets at prices in line with current book values. These sales further reduce our floating rate debt which is now only £35m and represents just 4% of total drawn debt. This will have a positive impact on our earnings as well as further reduce our loan to value.”
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