Property group LondonMetric has sold off two offices in Scotland to a single buyer for £36.6m.

Reflecting a blended net initial yield (NIY) of 7.0%, the sales are former LXi assets and comprise an office in Dundee let to BT on a 17.5-year lease, and an office in Glasgow let to STV Plc for a further 17 years with five yearly compounded fixed reviews of 1.5% per annum.

Separately, LondonMetric has also sold a former LXi care home in the West Midlands for £500,000.

Also following a number of sales last week, LondonMetric has now sold £55.4m of non-core LXi REIT assets at an average of 7% above prevailing book values.

LondonMetric chief executive, Andrew Jones, commented: “These are good, well-let assets. However, we continue to exit non-core sectors and geographies and reinvest in sectors where we have a competitive edge and which are enjoying a structural tailwind.”

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