LondonMetric continues retail disposals

Published:  05 September, 2016

LondonMetric Property has sold a retail park in Warrington to fund logistics acquisitions

LondonMetric has sold the The Fordton retail park in Warrington for £6. 6m, marginally ahead of March 2016 book value. The 20,200-sq ft park is let to Aldi, Greggs, Betfred, Barnardo’s and Costa. There is an adjoining pub which has recently been developed and sold off on a long leasehold. The weighted unexpired lease term is 14.8 years.

The proceeds have been reinvested in a distribution warehouse n Hemel Hempstead.

LondonMetric chief executive Andrew Jones said: “We continue to recycle equity from our mature retail parks into well located logistics assets, which we are confident will benefit from the ongoing structural changes impacting occupiers and deliver superior rental growth.”

LondonMetric was advised by JLL.

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