LondonMetric buys two last mile logistics sites

FTSE 250 listed property owners LondonMetric have invested £20.2 million to purchase two last mile logistics properties in London. This follows five other acquisitions of assets in the South East and South West earlier this year.

According to the company, the assets in Tottenham and Fulham have been acquired in two separate transactions.

LondonMetric had bought two last mile logistics sites in Brent Cross and Streatham earlier this year as well as sites in Uckfield, Worthing and Exeter.

Andrew Jones, CEO of LondonMetric, said: “It is clear that occupier demand for urban logistics assets in the strongest geographies is delivering superior rental growth.

“These acquisitions form part of LondonMetric’s strategy to increase its urban logistics investment within London and the South East, where there is a high intrinsic land value from alternative use.”

Online retail and logistics space is in high demand in the UK, and major landowners and developers are investing heavily in sites that are set to make good returns in the coming years.