Sep 18 2013
LondonMetric announces that its £150 million MIPP JV with USS has exchanged contracts to acquire a portfolio of five standalone Wickes retail warehouse units from clients of Aberdeen Asset Management. The total purchase price of £28.0 million reflects an average net initial yield of 7.2%, with an average unexpired lease term of just over ten years. The five Wickes units are located in Oxford (28,200 sq ft), Chatham (24,900 sq ft), Maldon (27,000 sq ft), Oldham (25,000 sq ft) and Barnsley (25,900 sq ft).
The full announcement can be found in the attached file.
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