LondonMetric Property has sold three short-let distribution warehouses for £24.3 million to various buyers.
Two of the properties are located in Wakefield and another is a regional distribution warehouse in Ashby-de-la-Zouche. All have a WAULT to first break of 3.4 years and all are subject to open market rent reviews.
“The market remains strong for real estate assets with structural support,” said LondonMetric chief executive Andrew Jones. “Whilst we remain focused on growing our logistics portfolio, we have continued to monetise some of our shorter let assets, where we benefitted from yield compression, but where we believe rental growth, in the weaker geographies, is less certain.”
