LondonMetric’s net rental income increased by more than 8% to circa £240m in the six-month period ended 30 September 2026.
The average uplift from rent reviews in the period was 17%, helping the portfolio to deliver annualised like-for-like income growth of 5.8%. LondonMetric said its income growth puts it on track to meet analysts’ EPS consensus for FY27, which would represent an increase of almost 40% over five years.
In the reporting period, 36 assets were sold generating £185m – in line with 31 March 2026 book values at a blended net initial yield of 6.6%. Acquisitions in the period totalled £424m dominated by the £307m of assets acquired through the Picton purchase.
The company, which has grown its portfolio to £8bn, said it has a number of further acquisitions under offer at attractive yields, including several food store development fundings pre-let to Lidl, M&S, Tesco and Waitrose.
Andrew Jones, chief executive of LondonMetric, said: “Property professionals are watching interest rates like traders but, despite elevated swap rates and reduced liquidity, we have continued to execute excellent disposals and reinvestments. After all, our fit-for-purpose portfolio still requires regular exercise. While we can’t predict how the macroeconomic environment will evolve, our all-weather portfolio is on the right side of changing consumer behaviour and its alignment to the winning sectors has once again delivered strong operational performance with rental income continuing to flow and grow to record levels.”
