LondonMetric Property PLC LONDONMETRIC SIGNS THREE GROCERY LETTINGS
01 Março 2022 - 4:01AM
RNS Non-Regulatory
TIDMLMP
LondonMetric Property PLC
01 March 2022
1 March 2022
LONDONMETRIC PROPERTY PLC
LONDONMETRIC SIGNS GROCERY LETTINGS ACROSS ITS LONG INCOME AND
RETAIL PARK PORTFOLIO
LondonMetric Property Plc ("LondonMetric") announces three
grocery lettings, across its long income and retail park assets in
Ashford, Totton and Tonbridge. The lettings will generate GBP1.2
million of contracted rent, have a WAULT of 16 years and benefit
from RPI or fixed rental uplifts.
At Ashford, Middlesex, on behalf of its MIPP Joint Venture,
LondonMetric has signed a new 25 year lease with Lidl on the former
32,000 sq ft Hitchcock & King unit, at a rent of GBP0.6 million
pa. Lidl has taken possession and is expected to open for trade in
October 2022.
At Totton, Southampton, also on behalf of its MIPP Joint
Venture, LondonMetric has exchanged contracts with Lidl to extend
its representation to 21,000 sq ft on a new 20 year lease, at a
rent of GBP0.3 million pa. Lidl will occupy the space currently let
to Poundstretcher.
At Tonbridge, LondonMetric has let a 14,000 sq ft unit to Food
Warehouse on a new 15 year lease, at a rent of GBP0.3 million pa,
following receipt of planning approval. Food Warehouse will occupy
space currently let to Go Outdoors, who is vacating following its
recent administration.
Following the lettings at Ashford and Totton, Lidl now
represents 1% of LondonMetric's contracted rent across four
properties, which also include Sevenoaks Way in Orpington, where
Lidl recently opened a new 22,000 sq ft store on a former
Carpetright unit.
Mark Stirling, Property Director of LondonMetric, commented:
"We have continued to take advantage of the polarisation within
the retail market to strengthen our exposure to select grocery
occupiers. These transactions have not only improved our rental
income and lease lengths but also replaced weaker occupiers with
stronger credits that better reflect changing consumer shopping
patterns."
For further information, please contact:
LondonMetric Property Plc
Andrew Jones / Martin McGann / Gareth Price
Tel: +44 (0) 20 7484 9000
FTI Consulting
Dido Laurimore / Richard Gotla / Andrew Davis
Tel: +44 (0)20 3727 1000
About LondonMetric Property Plc
LondonMetric is a FTSE 250 REIT that owns one of the UK's
leading listed logistics platforms alongside a diversified long
income portfolio, with 16 million sq ft under management. It owns
and manages desirable real estate that meets occupiers' demands,
delivers reliable, repetitive and growing income-led returns and
outperforms over the long term.
Further information is available at www.londonmetric.com
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