Londonmetric Property (LMP) Trading Update summary

M&A and portfolio growth

• Completed acquisitions of Highcroft Investment and Urban Logistics REIT, increasing portfolio value to £7.3 billion and net contracted rent to approximately £410 million per annum.

• Integration of acquired businesses is progressing well, with five former Urban Logistics employees joining the team.

Investment and asset sales

• Sold 14 assets this financial year for £106 million, matching 31 March 2025 book values.

• Recent sales include a logistics warehouse in Sheffield for £26 million, four former LXi assets for £15.4 million, and a vacant office in Cardiff for £1.2 million.

Asset management and rental performance

• Added £3.1 million per annum in additional rent from asset management initiatives since 31 March 2025.

• Settled 59 rent reviews, adding £2.4 million per annum at an average uplift of 16%, with logistics reviews achieving a 22% uplift and open market logistics reviews at 34%.

• Logistics lettings contributed £0.7 million per annum in rent, with regears seeing a 51% uplift.