LondonMetric sells five assets for £42.8m

6th Jul 2023 07:14

(Sharecast News) - LondonMetric Property said it has sold five assets for £42.8m, reflecting a net initial yield of 4.5%, the company said on Thursday.

The combined sales are in line with the 31 March 2023 book value.

"We continue to see good liquidity for our assets at prices in line with current book values. These sales further reduce our floating rate debt which is now only £35m and represents just 4% of total drawn debt. This will have a positive impact on our earnings as well as further reduce our loan to value," said chief executive.

Reporting by Frank Prenesti for Sharecast.com