Separately, the REIT has acquired a retail park outside Basildon for £10m. This asset reflects a net initial yield (NIY) of 6.7% rising to 7.3% following upcoming rent reviews.

Brands currently letting on the site include Pets at Home, Poundland, Farmfoods, KFC and McDonald’s.

LondonMetric has been actively selling down much of its portfolio in 2024, securing £209m over 52 asset sales since March 2024.

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The most recent sales include a 73,000 sq ft Asda branch for £28m, a leisure centre for £9m and five pubs totalling £8.2m.

Overall, the REITs sales have been made across the UK and in sectors such as retail, leisure and assisted living.

"These are a series of excellent disposals reflecting our strategy of exiting assets and sectors that are incompatible with the listed REIT sector,” said Andrew Jones, CEO of LondonMetric.

“We are redeploying the proceeds into winning sectors and higher quality assets that will provide better income reliability, predictability and trajectory."