Londonmetric Property (LMP) Investor presentation summary

Market position and portfolio overview

• £7.4bn portfolio across 680 assets, averaging £11m per asset, with 98% occupancy and a 16.4-year WAULT.

• 54% portfolio weighting to logistics, with additional exposure to convenience, entertainment & leisure, and healthcare.

• Top 10 occupiers account for 33% of income, down from 51% in 2019, enhancing income granularity.

• Portfolio is geographically diversified, with 40% in London & South East and significant holdings in Midlands and North.

Financial performance and returns

• EPRA earnings for H1 2026 reached £148.6m, up 15% year-on-year, with a dividend cover of 111%.

• Dividend has grown for eleven consecutive years, with a CAGR of 5% since 2014.

• Portfolio value increased to £7.4bn, with a total accounting return of 4.1% in H1 2026.

• LTV stands at 35.1%, with a sector-leading EPRA cost ratio of 7.7%.

Capital allocation and investment activity

• £1.5bn of acquisitions YTD, primarily in logistics (81%), and £0.3bn of disposals focused on non-core and mature assets.

• Four public takeovers in two years added £4.4bn of assets, with £0.4bn of non-core M&A assets sold.

• Embedded rental growth of £28m expected by FY27, with 67% of rent subject to contractual uplifts.