Our History
The UK's leading triple net lease REIT
Overview
LondonMetric was formed from a merger of London & Stamford Property and Metric Property Investments in 2013. Since then, it has since grown assets under management from £1bn to £6bn and pivoted the portfolio into logistics and other triple net leased sectors.
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Portfolio Distribution £6.0bn 43% 2023 – 2024
Significant investment through M&A activity
LondonMetric has undertaken two mergers acquiring LXi REIT plc and CT Property trust
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Portfolio Distribution £3.6bn 75% 2020-2022
Significant growth in urban logistics exposure and portfolio value
Through our development and investment activities, our urban logistics exposure grew to 44% of the portfolio and we increased our overall distribution exposure to 75%.
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Portfolio Distribution £2.3bn 70% 2020
Disposals of larger distribution assets to enable further investment into urban logistics
Responding to global investor demand for distribution warehousing, the Company sold several larger assets in geographies where it expected muted income growth. The sales improved income diversification and provided headroom to invest further into urban logistics and long income assets.
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Portfolio Distribution £2.4bn 71% 2018-2019
Investment into urban logistics, latterly through the acquisition of A&J Mucklow
The Company continues its sell down of retail assets and makes selective disposals of larger distribution warehouses. It reinvests the proceeds into distribution with a specific focus on urban logistics where the £0.4bn acquisition of A&J Mucklow in 2019 helped to increase its urban logistics exposure to £0.8bn.
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Portfolio Distribution £1.4bn 40% 2015 - 2017
Portfolio repositioning and refinancing
LondonMetric repositions its portfolio, significantly increasing its distribution exposure from 40% to c70% of the portfolio. Acquisitions were funded through the sale of a number of retail warehouses and its remaining offices. The Company undertakes a number of debt refinancings and raises £95m in March 2017 through an equity placing.
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Portfolio Distribution £1.2bn 21% 2013-2015
£830m merger and portfolio repositioning
London & Stamford and Metric Property merge to create LondonMetric Property in an £830m deal. The company undertakes a significant number of retail warehouse and distribution acquisitions funded through the disposal of London office and residential assets.
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2010
Metric Property IPO
Metric Property raises £175m at IPO and invests in out of town retail parks. London & Stamford converts to a REIT and lists on the UK’s Main Market.
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2007
London & Stamford IPO
Raises £246m at IPO in 2007 and a further £225m in 2009. It invested into central London residential, City of London & M25 office, retail and distribution.