Nov 14 2013
LondonMetric has exchanged on a portfolio of ten out of town Odeon multiplex cinemas from Odeon Property Group LLP for £80.6 million (net of corporate acquisition costs). The acquisition will be funded by a term facility of £43.5 million provided by Lloyds Bank plc. The portfolio is let to Odeon Cinema Limited for 24.9 years with no breaks and is subject to annual RPI index-linked rental increases of between 1% and 5%. The total initial rental income is £5.9 million per annum.
The full announcement can be found in the attached file.
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