2014

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18 December 2014

LondonMetric To Purchase And Fund The Development of The Hut Group's Retail Distribution Warehouse for £47.5 Million

LondonMetric Property Plc announces that it has agreed to purchase, via a forward funding contract with Omega Warrington Ltd (a Miller Developments’ joint venture), a new 690,000 sq ft retail distribution centre in Warrington for £47.5 million, reflecting a net initial yield of 7.5%. The acquisition will be financed from the Company’s existing resources.

The full announcement can be found in the attached file.

26 November 2014

LondonMetric Announces Half Year Results to September 2014

LondonMetric announces profit adjusted for exceptional items of £69.7 million, EPRA earnings of £20.9m, EPRA NAV per share of 128.8p, EPRA EPS of 3.4p and DPS of 3.5p was declared to be paid on 19 December 2014.

The full announcement can be found in the attached file.

26 November 2014

LondonMetric Sells Milton Keynes Retail Park for £21.8 Million and Acquires A New Site in Beford, Extending Its Distribution Pipeline

LondonMetric Property Plc announces the sale of a retail park in Milton Keynes and the conditional exchange of contracts for the acquisition of a new development site in Bedford, for a retail distribution led scheme.

The full announcement can be found in the attached file.

24 November 2014

LondonMetric Sells Bishop Auckland Retail Park for £23.6 Million

LondonMetric Property Plc announces that it has exchanged contracts on the sale of Bishop Auckland Shopping Park to Standard Life Investments for £23.6 million, reflecting a net initial yield of 5.27%. The former Focus unit and adjacent land was acquired for £2.3 million and developed by Metric Property Investments in two phases between 2012 and 2013 at a total cost of £15.8 million.

The full announcement can be found in the attached file.

04 November 2014

LondonMetric Sells St Paul’s Office Scheme for £139 Million

LondonMetric Property Plc announces that is has entered into an agreement with Fubon Life Insurance Company Limited for the sale of One Carter Lane, London, EC4 for £138.8 million.The sale is conditional upon Fubon Life receiving the necessary regulatory approvals. LondonMetric will receive a non-refundable deposit of £6.94 million. Completion of the sale is expected to take place in January 2015.

The full announcement can be found in the attached file.

01 October 2014

LondonMetric Acquires Dixons Retail Distribution Warehouse for £68.5 Million

LondonMetric Property Plc announces that it has exchanged contracts for the off-market acquisition of the Dixons Retail distribution centre in Newark for £68.5 million, reflecting a net initial yield of 6.4%. The acquisition is from a private investor and will be funded from the Company’s existing resources.

The full announcement can be found in the attached file.

15 September 2014

Londonmetric Portfolio Repositioning Continues

LondonMetric announces one acquisition on behalf of MIPP, and the disposal of two wholly owned assets, with a total transaction value of £23.4 million. At Liskeard, MIPP acquired Liskeard Retail Park in Cornwall for £9.0 million, reflecting a NIY of 6.2%. At Crawley, LondonMetric completed the disposal of its Forest House office for £12.9 million, reflecting an exit yield to LondonMetric of 6.7% and at Launceston, LondonMetric completed the disposal of the Carpetright and Topps Tiles units for £1.5 million, reflecting an exit yield of 7.0%.

The full announcement can be found in the attached file.

07 August 2014

LondonMetric Q1-15 IMS - Material Progress in Growing our Income

LondonMetric announces its interim management statement for the period from 1 April 2014 to 6 August 2014 with investment activity of £77.0 million (LM share), benefiting from a positive yield arbitrage of 220bps; ten occupier transactions across 729,000 sq ft on average lease lengths of 23.1 years; new debt totalling £151.8 million (LM Share £101.9 million) signed over the period; Group LTV of 39%.

The full announcement can be found in the attached file.

03 July 2014

MIPP Acquires Retail Park for £12.8 Million and Completes Extension and Equalisation Agreement with USS

LondonMetric announces that its MIPP joint venture with USS has exchanged contracts to acquire Trostre South Retail Park in Llanelli from Benesco, a charity, for £12.8 million, reflecting a net initial yield of 6.8%. LondonMetric has also completed its extension and equalisation agreement with USS to grow its ownership to 50.0% from 33.3% through further investment.

The full announcement can be found in the attached file.

18 June 2014

Annual Report and Annual General Meeting

LondonMetric announces that the Annual Report and Accounts for the year ended 31 March 2014, and the Circular convening the Annual General Meeting, will today be sent to shareholders.

The full announcement can be found in the attached file.

03 June 2014

LondonMetric Announces Full Year Results to March 2014

LondonMetric announces EPRA NAV per share of 121p, EPRA EPS of 4.2p and DPS of 7.0p for the full year. A dividend of 3.5p was declared to be paid on 21 July 2014. Portfolio revaluation of £95.9m contributed to a total property return for the period of 17.0% outperforming the IPD All Property Quarterly Benchmark return of 13.4%.

The full announcement can be found in the attached file.

03 June 2014

LondonMetric Announces Board Changes

LondonMetric announces the appointments of Mark Stirling and Valentine Beresford to the Board as Executive Directors with immediate effect. Patrick Vaughan has announces his intention to step down from his role as Executive Chairman and continue to lead the Board as Non-executive Chairman. Lastly Humphrey Price has announced his intention to retire from the board with effect from 31 March 2015.

The full announcement can be found in the attached file.

03 June 2014

LondonMetric Continues to Crystalise Gains and Recycle into Distribution

LondonMetric announces the disposal of its completed retail development at Berkhamsted for £12.45 million, NIY 4.5% and further sales from its Odeon and DFS portfolios for £15.2 million, NIY 6.1% and £17.1 million, NIY 7.8%, respectively. It also announces the purchase of the Royal Mail distribution centre in Rotherham for £10.3 million, NIY 6.0%.

The full announcement can be found in the attached file.

01 April 2014

LondonMetric to Develop 1 Million sq ft Pre-let Distribution Centre

LondonMetric has exchanged contracts to develop a 1.06 million sq ft retail distribution centre on the A14 in Islip, Northamptonshire. The 70 acre site already has an outline planning consent and construction is expected to commence late summer with practical completion targeted for summer 2015. LondonMetric has exchanged contracts to let the development in its entirety to a Top 25 retailer, on a new 25 year lease at an initial rent of £5 per sq ft. The total cost of the development, including the site purchase, is anticipated at £77 million, reflecting a yield on cost of 6.9%.

The full announcement can be found in the attached file.

26 March 2014

LondonMetric Appoints Rosalyn Wilton as a Non-Executive Director

LondonMetric is pleased to announce the appointment of Rosalyn Wilton as a non-executive director with immediate effect. She is currently a non-executive director of Axa UK Ltd, a role she has held since 2012, and since 2007 has also been a non-executive director for Optos plc, a main market listed medical technology company.

The full announcement can be found in the attached file.

26 March 2014

LondonMetric DFS Joint Venture Completes £175 Million Portfolio Acquisition and Simultaneous £47.1 Million Disposal

LondonMetric announces on behalf of its joint venture, that it has completed on its acquisition of 27 DFS assets from the administrator for a purchase price of £175 million, reflecting a net initial yield of 9.3%. LondonMetric owns a 30.5% interest in the Joint Venture. Simultaneously with the closing of the transaction, the Joint Venture has sold ten of the portfolio assets in three separate transactions for a total consideration of £47.1 million, reflecting an overall net initial yield of 8.6%.

The full announcement can be found in the attached file.

24 March 2014

LondonMetric Acquires Oak Furniture Land Distribution Warehouse for £22 Million

LondonMetric has exchanged contracts to acquire the Oak Furniture Land Distribution Centre in South Marston Park, Swindon from IM Properties, a privately owned property company. The purchase price is £22 million (net of acquisition costs), reflecting a net initial yield of 6.5%. The acquisition will be funded from the Group’s existing resources. The warehouse is Oak Furniture Land’s National Distribution Centre catering for its significant online business and its 50 out of town stores.

The full announcement can be found in the attached file.

12 March 2014

LondonMetric Acquires Marks & Spencer Distribution Warehouse for £32.2 Million

LondonMetric exchanged contracts to acquire the Marks & Spencer Distribution Centre in Sheffield from clients of CBRE Global Investors for a purchase price of £32.2 million (net of acquisition costs), reflecting a net initial yield of 7.6%. The acquisition will be funded from the Group’s existing resources. The asset comprises two units totalling 625,900 sq ft (unit 1: 334,800 sq ft; unit 2: 291,100 sq ft) and is sited at the Sheffield International Rail Freight Terminal (SIRFT).

The full announcement can be found in the attached file.

06 February 2014

LondonMetric Q3-14 IMS - Positioned for Growth

LondonMetric announces its interim management statement for the period from 1 October 2013 to 5 February 2014 with acquisitions totalling £201.9m, at an average yield of 7.9% across our core out of town and retail distribution sub-sectors, total commercial disposals of £129.7m at an average yield of 6.0% including and residential sales of £82.5m across 167 units. Pro forma dividend cover now 90% based on contracted rental income for 2014/15.

The full announcement can be found in the attached file.

30 January 2014

LondonMetric Acquires Superdrug Distribution Warehouse for £13 Million

LondonMetric exchanged on the acquisition of the Superdrug Distribution Centre in South Elmsall, Doncaster from OLIM Property Limited acting on behalf of BAE Systems Pension Fund. The purchase price is £13.0 million (net of acquisition costs), reflecting a net initial yield of 7.3%. The acquisition is expected to complete in June 2014 and will be funded from existing resources.

The full announcement can be found in the attached file.

27 January 2014

LondonMetric Sells Odeon Multiplex Cinema in Dudley for £7.7 Million

LondonMetric exchanged on the sale of the Odeon Multiplex Cinema in Dudley for £7.7 million to clients of Aberdeen Asset Management, reflecting a net initial yield of 5.95%. The property formed part of a portfolio of ten Odeon Multiplex Cinemas acquired by LondonMetric in November 2013 for £80.6 million, reflecting an overall net initial yield of 7.2%.

The full announcement can be found in the attached file.

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