A trading update from the REIT also reveals occupancy of 98% over this period with an average lease length of 17 years.

LondonMetric has been actively integrating the Urban Logistics REIT into its business, while disposing of non-core assets.

Over the financial year, 57 assets were sold for £318m at a blended NIY of 5.7%.

At the same time, LondonMetric made 35 direct investments totalling £333m.

On the finance side of things, LondonMetric has refinanced £1.5bn of debt while raising £1.2bn of new debt and repaying £1.1bn.

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This included a £500m debut senior unsecured bond issue in December 2025, rated A- by Fitch, which extended debt maturity and broadened access to the public debt markets at an attractive rate of 4.69%.

As at the year end, LondonMetric’s average drawn debt maturity was 4.4 years with only £200m of debt expiring over the next two years, which will be met from sales and/or around £500m of undrawn debt facilities.

“Despite macro uncertainty, volatile bond yields and reduced liquidity, we have continued to improve the quality of the portfolio with some excellent disposals and acquisitions,” said Andrew Jones, CEO at LondonMetric (pictured above).

“Our all-weather portfolio continues to deliver excellent income growth as we benefit from our alignment to the winning sectors.

“We are reaping the rewards of this strategy, and it is wonderfully comforting to see our rental income flowing and growing to record levels."