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Our approach & case studies

We focus on four strategic pillars​

Our approach is based on four strategic pillars. We own the right real estate, manage and enhance the right assets, collaborate with
our stakeholders and generate strong income-led returns.

We own quality assets in winning sectors underpinned by strong income. Our job is to allocate capital into real estate where it will be treated best.

Our portfolio is underpinned by structural trends with exposure to logistics, convenience, healthcare, entertainment and leisure. Our wide sector exposure gives diversification and portfolio resilience whilst our desirable, mission critical and key operating assets ensure that we benefit from high occupier contentment and strong income growth prospects.

Our disciplined approach ensures that we pursue quality returns over long periods of time by selective acquisition activity either in the direct market or through M&A. We constantly review the portfolio to ensure it remains fit for purpose and will sell assets where they do not meet our future returns criteria.

£ 7 bn

Portfolio size

+£ 5 bn

Growth in portfolio (ten years)

We continually work to enhance the quality and appeal of our assets by collaborating with our occupiers to ensure that we deliver real estate solutions that meet their needs.

This collaborative approach strengthens relationships, improves customer retention and creates the conditions for long-term income growth.

Our asset management activity looks to lengthen lease lengths and drive income growth through lettings, regears, pre-let developments and rent reviews. With a large proportion of our income subject to contractual uplifts, we have certainty of income growth.

We continue to embed sustainability across our activities, driven by our own aspirations as well as those of our stakeholders. We see ourselves as strong stewards of underinvested or poorer quality assets with the expertise and appetite to materially improve buildings.

£ 15 m

Added income in 2025

+ 4 %

Average like for like income growth (ten years)

We have a highly talented and motivated team, supported by a culture that values empowerment, inclusion and collaboration.

Our success is driven by the strength of our relationships with occupiers and our wider stakeholders such as investors, contractors and local communities.

We adopt a partner of choice mindset, particularly with our occupiers, and this is reflected in our high occupancy rate and high landlord recommendation scores.

9 /10

Landlord recommendation score (2025)

99 %

Occupancy rate for portfolio (2025)

We believe that income and income growth are the defining characteristics of long-term investment returns.

We appreciate the true benefit of income compounding over the longer term, focusing on the quantity, quality and timing of when cash will be returned.

We have embraced the REIT structure, and our NNN income model is delivering strong income and elevated levels of rental growth through a low cost and efficient platform.

This is a scalable, low-cost proposition that does not require great activity, people or risky decision making. We believe that this is the right way to invest: low cost, high quality, reliably and efficiently delivered.

10 years

Dividend progression

7.8 %

EPRA cost ratio, the lowest in the sector

Case studies

Explore our work

Alt for Forward Funded M&S development ​

Case study

Forward Funded M&S development

High quality forward funded development let on a very long lease to M&S​

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Alt for Forward Funded M&S development ​

£ 74 m

Funding commitment

390 k sq ft

Regional warehouse

20

Year lease​
​

In April 2025, LondonMetric acquired a new regional warehouse forward funding development pre-let for 20 years to M&S for £74 million, reflecting a 5.65% NIY with CPI linked rent reviews. The highly specified warehouse will be a key facility for M&S's food distribution business and incorporates chilled, ambient and frozen product.

The BREEAM Excellent building is expected to complete in summer 2026 and LondonMetric will receive a funding coupon of 5.5% during the development.​

“This is a high quality development let on a very long lease to one of the UK's strongest retailers. It will deliver income longevity, certainty and guaranteed growth. It further extends our relationship with M&S and adds another exceptional building to LondonMetric’s portfolio.”

Mark Stirling,

Asset Director​

Alt for Portfolio acquisition​

Case study

Portfolio acquisition​

Rare opportunity to acquire a high quality and well-located portfolio, mission critical to occupiers​

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Alt for Logistics development at Bedford​

£ 78 m

Acquisition value​

526 k sq ft

Across six assets​

£ 5 m pa

Income
​

In September 2024, LondonMetric acquired a portfolio of six urban logistics assets for £78 million at a NIY of 5.8%. The assets total 526,000 sq ft, are located in Stafford, Banbury, Romford, Southampton, Bristol and Aberdeen and let to strong occupiers including General Electric, Thales, EVRI, Macarthys Laboratories and KCA Deutag, with a WAULT of 10 years.​​

The portfolio is expected to see material income growth over the next few years through open market and inflation linked rent reviews.

“This was a very rare opportunity to acquire, off market, a high quality portfolio which is immediately earnings accretive. The well located, mission critical assets, offer an attractive mix of near-term income growth and value-enhancing asset management opportunities.”

Valentine Beresford,

Investment Director​

Logistics development at Bedford​

Case study

Logistics development at Bedford​

A high-quality sustainable logistics park, let to strong and growing businesses

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Alt for Portfolio acquisition​

£ 70 m

Build cost

715 k sq ft

Across five assets​

£ 6 m pa

Income
​

Bedford Link is LondonMetric’s flagship logistics asset which it developed in three phases and completed in 2024 for a total cost of c.£70 million reflecting a yield on cost of c7.5%.​

The asset is very well located in Bedford next to the A421 and comprises five warehouses across 715,000 sq ft and is let to Movianto, Carlton Packaging, Leidos, Larson-Juhl and Workstories with an average lease length of over 15 years. The properties are all BREEAM Very Good or Excellent certified​.​

“We have worked over a number of years to deliver an exceptional logistics park of high quality buildings which are let to strong occupiers and are delivering strong rental growth. Our engagement with stakeholders such as Bedford Council, contractors, local residents and businesses has contributed to the success of this development.”

Nick Heath,

Head of Projects​

Alt for weymouth development​

Case study

Weymouth Development​

Highly successful and fully de-risked development showcasing our strong occupier and stakeholder relationships​

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Alt for weymouth development​

c.£ 30 m

Acquisition value​

110 k sq ft

BREEAM Very Good​

7 %

Yield on cost​

LondonMetric acquired a convenience development site in 2017 and has since built and subsequently sold 70,000 sq ft of NNN retail stores which it pre-let to Aldi, Dunelm, B&M, McDonalds and Costa ahead of development.​

​

The final phase of the development comprises a pre-let M&S store across 40,000 sq ft, which is expected to complete in 2026. ​

“This has been a very successful development site for LondonMetric with the delivery of high quality buildings at attractive yields on cost. We have de-risked the developments through pre-lets to strong occupiers and responded to attractive offers by subsequently selling assets which have completed. We look forward to building and handing over the new store to M&S.”

Tom Pinder,

Projects delivery​

Alt for solar at huntingdon​

Case study

Solar at Huntingdon​

Large scale solar PV system covering the majority of the warehouse’s roof​

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1.9 MWp

Solar PV added

500  tCO2e

Saved emissions

A

EPC rating​
​

At our 300,000 sq ft logistics warehouse let to AM Fresh, 1.9MWp of solar was installed in 2024. LondonMetric had previously funded the development of the warehouse in 2022 and the PV system is expected to provide AM Fresh with c.28% of its annual energy needs and save c.500 tonnes of CO2 emissions p.a.​