LondonMetric buys Eddie Stobart shed

 
Kasmira Jefford
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LondonMetric will work with Eddie Stobart to extend the buildings on the 28-acre site
LONDONMETRIC said yesterday it has bought an east London warehouse leased out to logistics group Eddie Stobart for £56.5m.

The property group said it acquired the 28-acre site in Dagenham from Meaalofa Developments Holdings.

It is let entirely to Eddie Stobart at a rent of £3m per year for 17 years from August 2014. The pair plan to redevelop and expand the site to better fit the rapidly expanding company.

LondonMetric said the warehouse also had “exceptionally strong transport links” and was ideally located for the major ports of Felixstowe and London Gateway.

The group now owns 22 distribution centres worth £611.8m. It is the second deal this year after buying a Tesco warehouse for £21m last month.

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