18th Nov 2015 07:18
LONDON (Alliance News) - LondonMetric Property PLC on Wednesday said it has struck a deal to buy a DHL distribution warehouse in Reading for GBP28.8 million.
The FTSE 250-listed property investor said the building its let to DHL, the logistics company, for another ten years at a rent of GBP1.8 million a year.
"This acquisition is in line with our strategy of acquiring well located distribution assets that will generate real and sustainable income growth. The sector continues to benefit from growing demand/supply tension which will allow us to capture an increasing reversion over the next few years," said Chief Executive Andrew Jones.
By Sam Unsted; [email protected]; @SamUAtAlliance
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