LondonMetric sells five warehouses for £40.4m

(Sharecast News) - LondonMetric Property has sold £40.4m of mature and non-core urban warehousing across the UK, reflecting a net interest yield of 4.3%. The five warehouses have been sold in separate transactions to owner occupiers and long only funds, the company said on Monday.

LondonMetric said the sales were in line with September 30 book values and have delivered a profit on cost of 30% and an ungeared internal rate of return of 10%.

Reporting by Frank Prenesti for Sharecast.com