The assets total 44,000 sqft and have been acquired with vacant possession in two separate transactions. LondonMetric will refurbish both properties at a cost of £1.4 million which, once fully let, is expected to deliver a blended yield on cost of 4.5%.
At the 21,000 sqft warehouse in Fulham, terms have already been agreed with Jacuna Kitchens, a dark kitchens operator, to pre-let c.60% of the space.
These assets complement LondonMetric’s other recent London last mile logistics acquisitions in Brent Cross and Streatham, which were acquired earlier in the year.
