LondonMetric Property Plc (“LondonMetric”) announces that it has exchanged on the sale of a portfolio of four multi-let industrial estates, to Hines, for £40.5 million, reflecting a NIY of 6.2%.

The estates total 435,000 sq ft across 47 units and generate £2.7 million p.a. of rental income, with a WAULT to first break of 2.9 years. Three of the estates are located in Birmingham (Kingshill, Redwood Park and Shenstone) and the fourth in Rugby (Triton Park).