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Prices & Quotes - UK Markets - LondonMetric Property (LMP)

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Share Price:
Up 231.00p
Change Today:
2.20p
Market Cap:
2,101.55m
Sector:
Real Estate Investment Trusts

LondonMetric sells 5 non-core office and retail assets for 38.5m

By Michele Maatouk

Date: Monday 12 Apr 2021

LONDON (ShareCast) - (Sharecast News) - LondonMetric Property said on Monday that it has sold five non-core office and retail assets for a combined 38.5m, its share of which is 28m.
Two retail assets in North Shields and Llanelli have been sold in separate transactions for a total of 21.1m, of which LondonMetric's share is 10.6m. The assets are held in the company's joint venture with Universities Superannuation Scheme and are fully let to retailers including B&Q, Pets at Home, B&M, Tapi and Carpetright.

These sales are at an 8% surplus to the last reported book value, it said.

In three further transactions, two offices and a retail unit in Birmingham have been sold for 17.4m. The assets, originally purchased as part of the Mucklow acquisition in 2019, are fully let to Beiersdorf, the Highways Agency and J&S Accessories. These disposals are at a 1% surplus to the last reported book value, with completion of the largest asset disposal delayed until September.

LondonMetric said it has now sold 12 former Mucklow assets totalling more than 60m, including nearly half of the Mucklow office portfolio, delivering a total annualised return of 10.6%.

Chief executive Andrew Jones 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."

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LMP Market Data

Currency UK Pounds
Price 231.00p
Change Today 2.20p
52 Week High 242.80p
52 Week Low 185.80p
Volume 1,437,487
Shares Issued 909.76m
Market Cap 2,101.55m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LMP Dividends

  Latest Previous
  3rd Interim 2nd Interim
Ex-Div 11-Mar-21 26-Nov-20
Paid 15-Apr-21 08-Jan-21
Amount 2.10p 2.10p

Trades for 07-May-2021

Time Volume / Share Price
16:35 390,533 @ 231.00p
16:26 50 @ 230.40p
16:26 11 @ 230.40p
16:26 1,222 @ 230.40p
16:26 79 @ 230.40p

LMP Key Personnel

Finance Director Martin McGann
CEO Andrew Jones