Aug 05 2010
Metric Property Investments plc, a UK specialist retail real estate investment trust, announces the exchange and simultaneous completion of its acquisition of Launceston Retail Park, Launceston. Metric has acquired the retail park for £13.5 million, reflecting a deemed initial yield of 5.86%. The 69,000 sq ft retail park is fully let off a low average passing rent of £11.20 psf with an average unexpired lease term of 14.8 years. The Company has used its existing cash resources to finance the purchase.
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