LXI REIT plc
LXI.L
London Stock Exchange100.80
GBp
+0.70
- -
LXI REIT plc
LXI.L
(London Stock Exchange)
Recent
price
100.80
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- LXI REIT plc (LSE: LXI) operates as a subsidiary of LondonMetric Property Plc following its acquisition in March 2024; prior to the merger, it functioned as a United Kingdom-based real estate investment trust focused on acquiring and managing a diversified portfolio of commercial properties let on long-term, inflation-linked leases typically spanning 20 to 30 years to break or expiry. The company targets robust property sectors including healthcare facilities; budget hotels; theme parks such as interests in Thorpe Park and Alton Towers; food stores; industrials; pubs; arenas; car parks; garden centres; life sciences; drive-thru coffee outlets; and education properties, with assets leased to over 80 institutional-grade tenants on full repairing and insuring terms ensuring low operational costs and high occupancy rates exceeding 99%. Its portfolio historically encompassed over 348 properties valued at approximately £3.7 billion as of late 2022, generating contracted annual rental income of around £200 million with a weighted average unexpired lease term of 26 years and near-total inflation protection through indexed or fixed uplifts. Geographically, operations concentrate on the United Kingdom with minor exposure to Germany; founded in 2016 and headquartered at 1 Curzon Street, London, the company listed on the London Stock Exchange via IPO in 2018. In a major strategic shift, LXI REIT merged with LondonMetric Property Plc in March 2024 in an all-share deal valued at £1.9 billion, under which LXI shareholders received LondonMetric shares, creating a larger platform for long-income real estate investments with enhanced scale, synergies, and access to recycling opportunities from open-ended funds. Recent pre-merger activities included acquisitions such as a life sciences campus in York for £80 million, nine assets for £87 million, and 11 food and discount stores for £61 million, alongside refinancing efforts yielding a maiden investment-grade rating and extended debt maturities.