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LondonMetric Property buys distribution warehouse

LondonMetric Property buys distribution warehouse

LondonMetric Property has acquired a distribution warehouse in Stevenage for GBP7.3m at a NIY of 6.25%.

The 74,000 sq ft distribution warehouse is located immediately adjacent to the A1(M), on an established South East distribution park. The unit is let to Dixons Carphone for a further 9 years at a rent of GBP6.50 psf with a break clause in 4 years.

Andrew Jones, Chief Executive of LondonMetric, commented: “We continue to see superior value within the distribution sector where organic rental growth will exceed most other property sectors and this purchase offers strong reversionary potential.”

LMP : LondonMetric Property buys distribution warehouse

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