Birmingham offices and retail units sold in £17.4m deal

LondonMetric has sold two offices and a retail unit in Birmingham in a deal worth £17.4m.

The assets, originally bought as part of the Mucklow acquisition in 2019, are fully let to Beiersdorf, the Highways Agency and J&S Accessories.

The disposals are at a 1% surplus to the last reported book value, with completion of the largest asset disposal delayed until September.

Andrew Jones, chief executive of LondonMetric, said: “As part of our portfolio refinement, we continue to dispose of non-core and mature assets at attractive prices, allowing us to re-invest into opportunities with greater certainty of income and income growth.”