LondonMetric completes sales of distribution facility
Investment group LondonMetric Property has completed the sale of its Travis Perkins distribution facility in Brackmills, Northamptonshire, to CBRE Global Investors for £14.4m.
The FTSE 250 group acquired the 170,000 sq ft property in November 2013 for £9m with four months remaining on the lease, before redefining the lease on a new 10-year term at a yield on cost of 8%.
The company said after the sale, its portfolio worth amounts to £584.3m comprising 21 distribution centres.
LondonMetric shares were down 0.3% to 167.00p at 08:26 on Monday.