LondonMetric benefits from big box pivot
By Frank Prenesti
Date: Wednesday 05 Oct 2022
(Sharecast News) - Property investor LondonMetric said its pivot away from big box logistics and operational retail parks into highly reversionary urban logistics and well located long income assets has seen it benefit from favourable demand/supply dynamics, underpinning "good" income growth.
The company on Wednesday said its asset management activity continued to reflect strong demand and supply dynamics with £3.7m of annual rent added in the half year.
"Whilst the investment market has clearly softened since our year end, we have disposed of £120.4m of assets at a NIY of 4.2% and with a WAULT of seven years.
Acquisitions, totalled £99.1m and were largely focused on urban logistics and were transacted at a NIY of 4.3%, which is expected to rise to nearly 5.0% over the next few years from rent reviews, it added.
Reporting by Frank Prenesti at Sharecast.com
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