UK Property - comment

UK property is not yet dead. Volumes in the UK property space have significantly reduced as interest rate rises impact investor confidence. However, LondonMetric, a UK FTSE 250 listed REIT, has managed to sell 5 assets for £42m at a 4.5% Net Interest Yield. This is in line with their valuations as of March 2023. The asset sold includes two “long income” assets, i.e. retail park assets on long-term leases, specifically to LIDL and The Range, and some smaller distribution/logistic assets.