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LondonMetric Information
Share Price Information for LondonMetric (LMP)
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Share Price:
193.40
Bid:
192.60
Ask:
192.70
Change:
1.20 (0.62%)
Spread:
0.10 (0.052%)
Open:
193.20
High:
194.10
Low:
191.90
Prev. Close:
192.20
Last checked at -
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Don't have an account? Click here to register.LondonMetric disposes of two UK retail parks for £55m
Mon, 03rd Oct 2016 07:38
(ShareCast News) - LondonMetric has sold Pierpoint Retail Park in Kings Lynn for £24m and Damolly Retail Park in Newry, Northern Ireland, for £30.7m.The Tritax Property Income Fund has purchased the 74,000 sq. ft. Kings Lynn retail park, reflecting a net initial yield of 5.77%, which is in line with the March 2016 valuation. The property was bought in 2011 for £15.1m and has undergone complete refurbishment with six new lettings to Next, B&M, DFS, Tapi, Poundland and Greggs. Since purchase, the rental income has increased by 47% .A local investor purchased the 165,000 sq. ft. Damolly Retail Park, reflecting a net initial yield of 7.4%, which is 3% below March 2016 book value. LondonMetric bought the retail park in 2010 and has undertaken numerous asset management initiatives with new lettings to Lidl, Pets at Home, Home Bargains and Costa. Chief executive Andrew Jones said: "These sales represent the opportunity to monetise two of our larger retail park investments following an intense period of asset management activity."The investments have delivered positive returns over their period of ownership but it is now opportune to reinvest the monies into investment and development opportunities within our favoured logistics sectors where rental growth prospects look more attractive."
More News
26 Apr 2016 08:06
LondonMetric acquires £16m of assets
(ShareCast News) - LondonMetric Property has acquired two convenience assets in Matlock and Leicester and a development site in Ipswich for £16.2m, reflecting a net initial yield of 7.0%. The company has bought a three acre site from Tesco in Ipswich, where it plans to develop a new 30,000 sq ft ret
Read more14 Apr 2016 08:29
LondonMetric sells Taunton Odeon for £9.1m
(ShareCast News) - Real estate investment trust LondonMetric announced the sale of its freehold Odeon multiplex cinema in Taunton on Thursday, to the Asda Pension Fund, for £9.1m. The FTSE 250 firm said the property will form part of a portfolio managed by OLIM Property. LondonMetric confirmed the
Read more29 Mar 2016 15:12
17 Mar 2016 07:33
LondonMetric adds three new warehouses
(ShareCast News) - LondonMetric Property added three distribution warehouses to its estate on Thursday, spending £21.8m on the 212,600 square feet of space. The net initial yield on the purchase was 6.6%, contractually rising to 6.9% within two years. The FTSE 250 firm said the warehouses were locat
Read more10 Mar 2016 16:13
8 Feb 2016 15:26
LondonMetric directors up stake in company
(ShareCast News) - A number of LondonMetric's directors have increased their stake in the property company as it continues to adjust its portfolio towards retail logistics and distribution. Investment director Valentine Beresford purchased the largest stake, buying 31,076 shares for just over £50,0
Read more4 Feb 2016 16:07
Thursday broker round-up
(ShareCast News) - Coca-Cola HBC: Barclays downgrades to underweight with a target of 1325p. TalkTalk: Goldman Sachs downgrades to neutral with a target of 271p. Paragon Group: JP Morgan downgrades to neutral and sets a 380p target. Antofagasta: Investec reiterates sell with a target of 305p. Ang
Read more3 Feb 2016 07:42
LondonMetric announces second interim dividend
(ShareCast News) - LondonMetric has announced a second interim dividend after a busy third quarter as the property investor continues to adjust its portfolio towards retail logistics and distribution. The FTSE 250 company will pay an interim dividend of 3.75p per share in early April, which will lif
Read more