LondonMetric has announced a number of disposal and acquisition deals totalling £91m.

The property firm has disposed of two mature out of town retail assets for £64.6m, including the Cantium retail park in South East London for £46.5m.

The site was acquired for £38m in 2022 and is let for a further 12 years, primarily to B&Q, Pets at Home and Tapi.

It has also sold a new M&S store in Weymouth for £15.9m.

LondonMetric stated that the disposals are in line with book values and takes the total of its sold assets to £280m in the current financial year.

The company has also acquired a logistics warehouse in Doncaster for £16.9m and a Booker Cash & Carry site in Southend-on-Sea for £9.25m.

Chief executive at LondonMetric, Andrew Jones, concluded: "Following strong approaches for high quality long income product, we have decided to monetise two mature assets where we have completed on our business plans.

"Some of the sale proceeds have already been deployed into NNN assets at yields c.200bps higher and we expect to announce further accretive NNN acquisitions shortly."

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