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Jane Imrie

Greater London urban logistics warehouse acquired in £44m deal

A property specialist has acquired a warehouse in Greater London in a multi-million pound deal.

LondonMetric Property Plc has announced the acquisition of an urban logistics warehouse in Waltham Cross for £43.8m through a sale and lease back transaction.

Situated in a logistics area of Enfield adjacent to the M25, the warehouse occupies a 5.6 acre site and comprises 115,000 sq ft of space.

The warehouse is currently let to Reynolds, a national foodservice business on a new 23 year lease, and generates a rent of £1.6m per annum.

Andrew Jones, chief executive of LondonMetric, commented: “We are pleased to be able to redeploy recent sales receipts into such a high quality, well located asset offering the certainty of excellent income growth with the comfort of a high intrinsic site value.

“Assets of this quality seldom become available and we look forward to building on our relationship with Reynolds and welcome them as one of our key customers.”

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