Property investor sells South Yorkshire warehouse in £15m deal

Property investor LondonMetric has sold a warehouse in South Yorkshire which is let to Superdrug in a £15m deal.

The 290,000 sq ft building in Doncaster is let for a further eight years with three years to break. It was acquired by LondonMetric in 2014 for £13m.

It also announced the acquisition of five urban logistics warehouses for £25.6m, located in Leyton, Weybridge, Peterborough, Cheltenham and Haverhill with occupiers including Leeds-based Clipper Logistics, FedEx and Tesla.

Andrew Jones, chief executive of LondonMetric, said: “The investment market for logistics assets continues to enjoy strong structural support. We have therefore decided to monetise one of our oldest and shortest let regional assets to allow us to focus on growing our urban logistics portfolio, which offers greater certainty of occupation, income and future valuation growth.

“These new investments meet our objective of owning long let assets in strong locations that offer excellent potential for income growth.”