LondonMetric has sold six assets for a total of £24.5m.
The disposals included three offices and a car showroom, sold for £15.3m, which formed part of the CT Property Trust portfolio.
LondonMetric completed its £200m takeover of CTPT in August.
The buildings have a WAULT of six years and their sales follow on from last month’s disposal of three high street retail assets from the CTPT portfolio.
The REIT has also sold an office investment in Worcester for £3.2m, which was acquired as part of the A&J Mucklow takeover in 2019. It is let for a further seven years.
In addition, the REIT has sold an Aldi store in Leicester for £6m in response to an off-market approach. The property was acquired in 2016 for £4.6m.
The six assets have been sold at 1% above book value and 10% above underwrite.
So far this financial year, LondonMetric has sold £154m of assets.
Chief executive Andrew Jones said: “Despite elevated debt costs, we are seeing good liquidity for smaller lot sizes across all sectors of the investment market. Since completion of the CTPT acquisition in August, we have now sold seven of the 33 assets acquired representing around 8% of the portfolio by value, at prices comfortably ahead of our underwrite values.”
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