LondonMetric Property Completes £105 Million of Investment Activity, Including £59.1 Million Sale of Two Ramsay Health Care Hospitals

LondonMetric Property has completed £105 million of investment activity since its July 2026 trading update, the company announced Sept. 3, 2026, with the largest single transaction being the £59.1 million sale of two private hospitals let to Ramsay Health Care.

Seven Assets Sold for £85 Million at 5.3% Net Initial Yield

LondonMetric Property disposed of seven assets in total for £85 million, in line with March 2026 book values, at a net initial yield of 5.3%. The sales span healthcare, industrial, retail and hospitality property types, and the company described the assets as non-core holdings largely acquired through prior merger-and-acquisition activity.

The headline transaction within the disposal programme is the sale of two single-let private hospitals — one in Truro, Cornwall, and one in Salford, Greater Manchester — for a combined £59.1 million. Both hospitals are let to Ramsay Health Care and carried approximately 11 years of unexpired lease term at the time of sale.

Additional disposals include two logistics warehouses located in Ripon and Normanton, sold for £13.0 million. Those warehouses were let with approximately six years remaining on their leases, with a tenant break option at the three-year mark. A Lidl convenience store and two Travelodge hotels were also included in the £85 million disposal package.

Ramsay Health Care Exposure Reduced Following Hospital Sales

Prior to the transaction, LondonMetric Property held 11 private hospitals let to Ramsay Health Care, representing 9.1% of total portfolio rent as of March 31, 2026. Following the Truro and Salford disposals, the company's Ramsay hospital count falls to nine, and rental exposure to Ramsay Health Care decreases to 8.4% of total rent.

Healthcare and education assets represented 12% of LondonMetric Property's portfolio by value as of March 31, 2026. The Ramsay hospitals in the portfolio carry annual fixed rent reviews of 2.75% and are supported by parent company guarantees from Ramsay Health Care. LondonMetric's two largest Ramsay hospitals — located in Sawbridgeworth and Chelmsford in the South East — remain in the portfolio following these sales.

Forward Funding of Tesco Foodstore in Nuneaton Rounds Out Activity

The remaining approximately £20 million of the £105 million headline figure relates to acquisitions and forward funding commitments. LondonMetric Property has committed to a £20 million forward funding of a foodstore in Nuneaton pre-let to Tesco on a long lease, continuing the company's focus on grocery-anchored convenience assets.

Portfolio Reshaping Continues Following M&A Expansion

The September transactions are part of a broader capital recycling effort LondonMetric Property has pursued following a period of significant M&A-led portfolio expansion. In its most recent full financial year, the company completed approximately £1.8 billion of investment activity, including around £1.5 billion of acquisitions and approximately £0.3 billion of disposals. The company had previously sold 41 assets from the LXi REIT portfolio for £150 million and 14 assets from the CT Property Trust portfolio for £54 million as part of ongoing non-core asset rotation.

The £85 million of disposals announced Sept. 3 were completed in line with March 2026 book values, indicating no write-down on the assets. LondonMetric Property's stated reinvestment focus remains on logistics, convenience retail and long-income healthcare assets with contractual rent uplifts and long weighted average unexpired lease terms.

Sources

LondonMetric Property — Press Release, Sept. 3, 2026