LondonMetric completes acquisition of assets
26th Mar 2014 08:03
LondonMetric Property has completed the acquisition of 27 DFS assets from administrator Delphi Properties Limited. The group has bought the assets through its joint venture, LMP Retail Warehouse JV Property Unit, for £175m, representing a net yield of 9.3%. At the same time the joint venture, in w
Read moreLondonmetric to buy Oak Furniture Land distribution centre
24th Mar 2014 08:40
LondonMetric Property has agreed to acquire the Oak Furniture Land Distribution Centre in Swindon. The FTSE 250 group is funding the £22m purchase from its existing resources at a net initial yield of 6.5%. The asset comprises a 302,000 sq ft warehouse developed in 2006 with an unimplemented pla
Read moreLondon pre-open: Potential second Chinese bond default to hit FTSE
12th Mar 2014 07:45
- FTSE to open around 60 points lower - Reports of potential second bond default in China - Data out on US Crude Oil Inventories and EU Industrial Production The City is set to start the day firmly in reverse on the back of reports of another bond default in China and a negative finish in the US la
Read moreLondonMetric Property buys M&S distribution centre in UK
12th Mar 2014 07:11
LondonMetric Property has agreed to buy Marks & Spencer (M&S) Distribution Centre in Sheffield from CBRE Global Investors for 32.2m pounds. The purchase price reflects a net initial yield of 7.6% and will be funded from the UK property group's existing resources. The distribution centre comprises
Read moreLondonMetric increases investment on acquisitions
6th Feb 2014 10:39
LondonMetric Property ramped up its investment activity in the period from October 1st to February 5th as the company repositioned its portfolio. The UK British property investment group made £201.9m worth of acquisitions during the period at an average yield of 7.9% across core out of town and ret
Read moreLondonMetric acquires Superdrug distribution centre
30th Jan 2014 09:35
LondonMetric Property has acquired the Superdrug Distribution Centre in Doncaster, which is fully occupied by the health and beauty chain of the same name. The £13m acquisition had a net initial yield of 7.3% and was funded from existing resources. Superdrug has recently re-geared its lease on th
Read moreLondonMetric sells Odeon cinema in Dudley
27th Jan 2014 07:32
LondonMetric Property, the FTSE 250-listed real estate investment trust, has disposed of the Odeon Multiplex Cinema in Dudley to clients of Aberdeen Asset Management. The 10-screen, 40,200 square-foot cinema was sold for £7.7m, reflecting a net initial yield of 5.95%, falling to 5.8% in June when a
Read moreWednesday broker round-up UPDATE
15th Jan 2014 08:42
African Barrick Gold: Liberum Capital downgrades to sell with a target price of 147p. Deutsche Bank lowers target price from 190p to 180p, while maintaining a hold recommendation. African Minerals: Deutsche Bank shifts target price from 410p to 414p and maintains a buy recommendation. Amlin: JP Mo
Read moreMonday broker round-up UPDATE
13th Jan 2014 09:04
Admiral Group: Citi ups target price from 1220p to 1256p and reiterates a neutral rating. Afren: Nomura increases target price from 170p to 210p and stays with its neutral rating. Alternative Networks: Westhouse Securities increases target price from 445p to 540p reiterating its add rating. Amlin
Read moreLondonMetric expands distribution portfolio, buys Royal Mail centre
20th Dec 2013 07:58
Real estate firm LondonMetric Property (LMP) announced on Friday that it has exchanged on two deals, acquiring a Royal Mail distribution centre in Daventry and selling a retail park in Congleton. LMP is buying up Royal Mail's main distribution centre at Daventry International Rail Freight Terminal
Read moreLondonMetric buys portfolio through new joint venture
19th Dec 2013 09:40
LondonMetric Property has agreed to pay 175m pounds for a portfolio of 27 properties from administrators to the owner of furniture retailer DFS, Delphi Properties. The purchase price reflects a net yield of 9.3% and the acquisition is expected to be completed on March 25th next year. The portfoli
Read moreLondonMetric sells Unilever HQ to Malaysian investors
17th Dec 2013 07:25
FTSE 250 retail investment trust LondonMetric has sold Unilever's head office for 75.8m pounds to Malaysian Shariah-compliant investment group. The sale generated a £15.65m profit for a property purchased in June 2012, which represented a net initial yield of 5.9%, an ungeared total return of 16.1
Read moreHangar 8 CEO makes first sale to meet demand for stock
3rd Dec 2013 15:59
Hangar 8, a privately-owned passenger jet aircraft owner, announced that Dustin Dryden, its Chief Executive Office, made his first ever sale of company stock with the disposal of 750,000 shares to meet institutional demand. Dryden sold the shares at 205p each for a total of £1.54m and reduced his
Read moreFriday broker round-up UPDATE
29th Nov 2013 08:52
Bovis Homes: Panmure Gordon ups target price from 875p to 900p and stays with its buy recommendation. BowLeven: Barclays cuts target price from 175p to 135p maintaining its overweight rating. BT Group: Jefferies shifts target price from 430p to 435p and retains a buy recommendation. Compass Group
Read moreLondonMetric reports rise in first-half profit
28th Nov 2013 07:59
- Half-year profit rises - Dividend maintained at 3.5p - EPS declines on portfolio repositioning Retail investment trust LondonMetric reported a jump in profit, a flat dividend, and a decline in net debt for the six months ended September 30th. For the half year, profit before exceptional items
Read more