LondonMetric buys two properties for £135.6m

UK real estate company LondonMetric on Monday said it had bought two logistics warehouses for £135.6m in separate deals.

The properties generate annual rent of £6m, with 100% of the income benefiting from RPI linked rent reviews.

One unnamed property was acquired for £97m, with a yearly rent of 4.1m, while the other, a warehouse in Ipswich, for £38.6m pre-let to a “rapidly expanding e-commerce company”, on a 20 year lease at a rent of £1.9m a year.

The warehouse was located at Port One Logistics Park, Ipswich, and development was expected to be completed in spring 2022.