LondonMetric Property

Last updated

LondonMetric Property plc
Company type Public
Industry Property
Founded2007
Headquarters London, United Kingdom
Key people
Patrick Vaughan, Chairman
Andrew Jones, CEO
RevenueIncrease2.svg £146.7 million (2023) [1]
Decrease2.svg £(473.6) million (2023) [1]
Decrease2.svg £(507.6) million (2023) [1]
Website londonmetric.com

LondonMetric Property plc is a British property company. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 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. [2] It came to prominence when it acquired a significant stake in the Meadowhall Shopping Centre from British Land in February 2009. [3] It was first listed on the London Stock Exchange and became a REIT in October 2010. [4]

In January 2013, the company merged with Metric Property Investments to form LondonMetric Property. [5]

In January 2024, it was confirmed that LondonMetric Property would acquire LXi REIT in a deal worth £1.9 billion (US$2.43 billion). [6]

Operations

Fleet Place in London Fleet Place.jpg
Fleet Place in London

The company has circa 100 property investments, all located in the UK. [7] The company's investment properties were valued at £2.9 billion as at 31 March 2023. [1]

Related Research Articles

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References

  1. 1 2 3 4 "Annual Report 2023" (PDF). LondonMetric Property. Retrieved 13 February 2024.
  2. London & Stamford Property: Prospectus Archived 2012-03-15 at the Wayback Machine
  3. British Land sells Meadowhall to property magnate Raymond Mould Daily Telegraph, 9 February 2009
  4. London & Stamford Property becomes a REIT Property Week, 1 October 2010
  5. "UK developer London & Stamford makes offer for Metric". Reuters. 9 November 2012. Retrieved 30 April 2023.
  6. "UK's LondonMetric to buy LXI REIT in $2.4 bln deal". Reuters. 11 January 2024. Retrieved 29 February 2024.
  7. "Office". londonmetric.com. Retrieved 30 March 2015.