London & Stamford buys again

The listed property vehicle has acquired a distribution unit in England for £19 million.

London & Stamford Property has made another purchase to add to a string of deals this year.

The company, which was taken onto London stock market in 2007, has bought a distribution unit operated by supermarket Somerfield in the UK town of Wellingborough for £19.6 million (€23 million; $32 million).

Though the firm was floated on the London stock exchange two years ago, it only began making acquisitions this year.

In January it acquired an office in Central London for £74 million from insurance company Legal & General.

The following month it exchanged contracts to acquire a 50 percent interest in the freehold of Meadowhall Shopping Centre. Then it bought an office in Leeds for £37 million.

London & Stamford was founded by veteran UK real estate investors Raymond Mould and Patrick Vaughan, raised £241 million on London’s Alternative Investment Market (AIM) in anticipation of a market correction and distress.