This period also saw the REIT’s EPRA earnings increase significantly, by 120%, to £268m.

Overall, the REIT’s portfolio generated a total property return of 8.3% over the 12 month period which was driven by the repetitive and growing income of these assets.

This income an income return of 5.7%, and ERV growth of 3%.

LondonMetric’s portfolio was valued at £6.2bn by 31st March, up by £200m from the previous year.

The REIT’s management team had been active during this period and pivoting the portfolio towards a logistics weighting of 46%.

This had grown due to £343m of asset acquisitions during the year with 87% of these being logistics-based.

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At the same time, £342m of assets were disposed of with a further £63m of sales completed since the reporting period ended in March.

The REIT’s management team is now confident ahead of the future, forecasting contractual rental uplifts on 77% of its income with £27m in additional rent expected to be generated.

“We have every reason to be optimistic about our relentless expansion and the opportunities available from our highly scalable platform,” said Andrew Jones, CEO at LondonMetric.

“In an environment where scale is essential, our £6bn portfolio is set to grow by a further £1bn through M&A activity which will add to our urban logistics exposure, our strongest conviction call sector for rental growth."