Derby warehouse bought as part of £120m deal

A warehouse in Derby which is let to Travis Perkins has been bought as part of a wider £120m deal.

LondonMetric has completed a deal to buy the unit as part of a £70m transaction to buy seven warehouses and £50m worth of “non-core” disposals.

Andrew Jones, chief executive of LondonMetric, said: “We have been very clear on our desire to monetise some assets acquired from our corporate takeovers. We have now sold around £100m of LXi assets, with 13 of the 16 non-core CTPT assets also sold at an average of 14% above our original underwrite values.

“We have successfully reinvested these proceeds into high quality properties, in stronger sectors that will deliver accelerated income growth.”