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- LondonMetric books 60% profit on Travis Perkins depot
LondonMetric Property has announced that it is selling its Travis Perkins distribution facility in Brackmills, Northamptonshire for £14.4m. The buyer is CBRE Global Investors.
LondonMetric paid £9m for the property in November 2013 when there was just four months remaining on the lease. They agreed a new ten year term with Travis Perkins for a rent equivalent to an 8% yield on cost and have sold it on a yield of 5.5%.
They still have 44% of their portfolio invested in distribution with 21 centres valued at £584.3m with a WAULT of 14.5 years and with 52.1% of income subject to fixed uplift or RPI increases.
LMP : LondonMetric books 60% profit on Travis Perkins depot
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