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LondonMetric sells further six assets, acquisitions boost portfolio value by £7.3bn
(Sharecast News) - Real estate investment trust LondonMetric said on Wednesday that it has sold a further six assets for £42.6m since its FY results announcement in May. So far this financial year, LondonMetric has sold 14 assets for £106.0m, in line with 31 March 2025 book values.
LondonMetric said that the recent acquisitions of Highcroft Investment and Urban Logistics REIT had increased the value of its portfolio by £7.3bn, which it said had continued to "perform well", with occupier demand remaining strong.
Since 31 March, LondonMetric noted that it has added £3.1m per annum of additional rent from asset management initiatives, while it also said 59 rent reviews had been settled, adding £2.4m per annum, at an average uplift of 16% above previous passing rent on a five-yearly equivalent basis.
LondonMetric also stated that as part of the Urban Logistics and Highcroft acquisitions, it has taken on secured debt facilities of £484.0m at an average drawn rate of 4.26%. Available debt facilities now total £1.0bn, providing "significant optionality" to finance future transactions and debt expiries.
Reporting by Iain Gilbert at Sharecast.com
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