Supply Chain Council of European Union | Scceu.org
Warehousing

REIT LondonMetric Drops $53M On Pair Of UK Warehouses

Law360 (January 12, 2021, 3:07 PM EST) — LondonMetric Property has reached a deal to buy a pair of warehouses in England for £39 million ($53.2 million), according to an announcement Tuesday from the U.K.-based real estate investment trust.

LondonMetric Property PLC said Tuesday it has purchased a property in Manchester from construction firm Marshall CDP and an asset in the Birmingham area from real estate firm Opus Land.

The REIT paid for £20.5 million for the 137,000-square-foot Manchester property and dropped £18.1 million on the Birmingham-area warehouse, which has 122,000 square feet of space and is located in Oldbury, seven miles to the west of Birmingham.

“These newly…

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