LondonMetric buys two Leeds warehouses for £12m
Updated : 08:15
LondonMetric Property said it it had bought two last mile distribution warehouses in Leeds for £12m, reflecting a blended net initial yield of 6% and a reversionary yield of 6.5%.
One warehouse is let to Vision Alert Automotives on a new 15 year lease at £5.00 per square foot (PSF) with open market rent reviews. The other is let to Siemens at £5.25 PSF with three years remaining of the 10 year lease, the company said in a statement.