Thu, 27 Nov 2014 | COMMERCIAL PROPERTY
LondonMetric Property plc, a company focused on investing in retail and distribution properties across the UK and real estate in Greater London, has been busy with property transactions lately.
It has sold Cairngorn Retail Park in Milton Keynes to Royal London Asset Management for £21.8 million, having bought the park in January 2013 as one of six similar parks, together termed the ‘Saturn portfolio’, during a period of market illiquidity.
Extending to 57,40 sq ft. the park is let to home furniture businesses Oak Furniture land, Furniture Village, DFS, Carpetright and ScS who pay an average rent of £24.50 per square foot.
The company is simultaneously making progress with its acquisition of a 37-acre site from Bedford Borough Council, having exchanged contracts. The site has capacity for up to 750,000 sq. ft. of distribution space.
To pursue its site development plans LondonMetric will have to obtain the necessary planning permission. It aims to submit its application for the development in the autumn of 2015, win consent later in the year and complete its build in 2017.
Andrew Jones, chief executive of LondonMetric commented: “These transactions are further evidence of our strategy to recycle capital out of assets where we have completed our business plans and invest the proceeds into opportunities where we can use our extensive property skills to deliver future value to shareholders.”
The company offers a well-regarded own brand of hair care products focusing on hair growth and repair, featuring premium formulas that are natural, vegan, and cruelty-free. With a strong global presence and prestigious industry awards, the business h...
This business offers a cutting-edge process safety management platform with proprietary software that ensures proactive safety measures for both onshore and offshore assets. With a strong foothold in the oil and gas sector and recent expansion into i...
This business offers a comprehensive range of road surfacing and civil engineering services, supported by significant investments in state-of-the-art equipment and a recently acquired operational site in Scotland to optimise efficiencies. With robust...
03
|
Jul
|
Energy services firm completes third acquisition | BUSINESS SALE
Energy services firm Earnz plc has completed its third acqui...
03
|
Jul
|
Newcastle life sciences firm falls into administration and ceases trading | ADMINISTRATION
AMLo Biosciences, a life sciences firm based in Newcastle, h...
03
|
Jul
|
Matthew Freud exploring possible sale of eponymous PR consultancy | BUSINESS SALE
Leading public relations executive Matthew Freud (pictured) ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.