LondonMetric invests €64M in a logistics center
LondonMetric Property Plc announced the acquisition of a long let cold storage and logistics warehouse development for €64million (£53.4 million).
300,000 sq ft building is pre-let on a 25 year lease to AM FRESH GROUP,
an international agri-tech company that supplies the majority of UK
supermarkets with a range of items including fruits, plant-based fresh
goods and flowers.
The rent of £2.0 million p.a. equates to a low £6.70 psf and is subject to five yearly CPI+1 linked reviews, at an acquisition yield of 3.7%.
The development is located at Alconbury Weald, Huntingdon, on the A1(M), with the nearby A14 interchange providing a direct link to Felixstowe port.
Find out more in the company's press release.