LondonMetric Property

Last updated

LondonMetric Property plc
Company type Public
Industry Property
Founded2007
Headquarters London, England, UK
Key people
Alistair Elliott, Chairman
Andrew Jones, CEO [1]
RevenueIncrease2.svg £178.1 million (2024) [2]
Increase2.svg £161.3 million (2024) [2]
Increase2.svg £119.9 million (2024) [2]
Website londonmetric.com

LondonMetric Property plc is a British property company based in London, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Contents

History

The company was established by Raymond Mould and Patrick Vaughan in October 2007 as London & Stamford Property plc and admitted to the Alternative Investment Market in November 2007. [3]

It acquired a significant stake in the Meadowhall Shopping Centre from British Land in February 2009. [4] It was first listed on the London Stock Exchange and became a REIT in October 2010. [5]

In January 2013, the company merged with Metric Property Investments to form LondonMetric Property. [6]

In January 2024, it was confirmed that the company would acquire LXi REIT in a deal worth £1.9 billion (US$2.43 billion), and, in April 2025, it was confirmed that the company would buy Urban Logistics REIT in a deal worth £674 million. [7] [8] [9]

Operations

The company has about 572 property investments, all located in the UK. The company's investment properties were valued at £6.2 billion as of 31 March 2024. [2]

References

  1. "Board of Directors". LondonMetric Property. Retrieved 12 December 2024.
  2. 1 2 3 4 "Annual Report 2024" (PDF). LondonMetric Property. Retrieved 20 August 2024.
  3. "Prospectus" (PDF). London & Stamford Property. Archived from the original (PDF) on 15 March 2012.
  4. "British Land sells Meadowhall to property magnate Raymond Mould". Daily Telegraph. 9 February 2009. Retrieved 12 December 2024.
  5. "London & Stamford Property becomes a REIT". Property Week. 1 October 2010. Retrieved 12 December 2024.
  6. "UK developer London & Stamford makes offer for Metric". Reuters. 9 November 2012. Retrieved 30 April 2023.
  7. "LondonMetric tables £674m bid for Urban Logistics REIT". Portfolio Adviser. 15 April 2025. Retrieved 20 June 2025.
  8. "Urban Logistics snapped up by LondonMetric as M&A boom continues". Shares Magazine. 9 May 2025. Retrieved 20 June 2025.
  9. "UK's LondonMetric to buy LXI REIT in $2.4 bln deal". Reuters. 11 January 2024. Retrieved 29 February 2024.