August 10, 2017 / 6:54 AM / in 2 months

BRIEF-Londonmetric Property buys portfolio of 14 logistics warehouses

Aug 10 (Reuters) - LONDONMETRIC PROPERTY PLC:

* ACQUIRES PORTFOLIO OF 14 LOGISTICS WAREHOUSES FOR 116.60 MILLION STG

* PURCHASE PRICE REFLECTS A DAY ONE YIELD ON COST OF 6.1 PCT AND A REVERSIONARY YIELD OF 6.6 PCT

* PORTFOLIO HAS A WAULT OF 5.6 YEARS AND IS LET AT A LOW AVERAGE RENT OF 5.50 PSF STG (ERV OF £6.00 PSF )

* ACQUISITION INCREASES LONDONMETRIC‘S DISTRIBUTION WEIGHTING TO 69% AND LTV TO 37% 1,2 SOURCE TEXT FOR EIKON: FURTHER COMPANY COVERAGE:

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