LondonMetric Property PLC (LON:LMP)

LondonMetric Property Plc is a UK-based REIT (real estate investment trust), which is mainly engaged in property investment and development, primarily focusing on urban logistics. It was founded in the year 2013, after the merger of London & Stamford Property and Metric Property Investments. London & Stamford IPO launched its IPO in 2007, and it converted itself to a REIT and got listed on the UK’s main market in 2010, which was the same year in which Metric Property Investments launched its IPO. The headquarters of LondonMetric Property are situated in London. It is listed and traded on the London Stock Exchange publicly, and it is also a part of the FTSE 250 index. The subsidiaries of the company include A & J Mucklow Group Limited, London Metric Property Plc Employee Benefit Trust, and London & Stamford Investments Ltd. etc.

The goal of the company is to create a diversified portfolio of high-quality real estate assets in the UK, which helps in maximisation of the long-term risk-adjusted returns for investors and shareholders. The portfolio has grown significantly over the years, from £1.2 billion in 2013 to £2.6 billion today, and it has been drifting more towards distribution and long income assets from multi-let retail parks, offices and residential properties. An area around 15 million sq. ft. is managed by the company, mainly in urban regions, with around one-third of it in urban logistics. The properties in the portfolio usually have very low operational requirements and are mostly let on long leases. Contractual uplifts contribute to more than half of the company’s rental income. The key properties in its portfolio are in Islip, Thrapston, Dagenham, Ollerton, and New Malden, Burlington Road etc.

LondonMetric Property Plc follows a well-defined framework of corporate governance and aligns itself with the UK Corporate Governance Code 2018. The board of the company has set up separate committees for audit, remuneration, and nomination. It has an ethical code of conduct for running its business operations and promotes a culture of trust, transparency, and accountability. It follows stringent policies for compliance and anti-corruption, diversity & inclusion, and modern slavery. Apart from fulfilling all its corporate responsibilities, the company also fulfils its environmental and social responsibilities. It complies with international best practices and guidelines to create a sustainable business. It aims to minimize the impact of its business activities on the environment and create long-term value for the business as well as the wider community. In the latest GRESB assessment, the company has maintained its Green Star status, which is its sustainability benchmark. It has maintained its EPRA sBPR Gold Star as well, and is also a part of the Ftse4Good index.