Sep 09 2013
LondonMetric announces that it has exchanged on two distribution warehouses in Northamptonshire and Leicester for a total consideration of £23.1 million, reflecting a combined net initial yield of 7.5%. The acquisitions will be funded from existing resources. In Northamptonshire, it has exchanged contracts to acquire a 310,500 sq ft distribution warehouse in Crick for £17.9 million, reflecting a net initial yield of 7.3%, rising to 8.4% in year five and let to Norbert Dentressengle. In Leicester, it completed the acquisition of the Boden Distribution Unit for £5.2 million, reflecting a net initial yield of 8.3%.
The full announcement can be found in the attached file.
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