Logistics specialist LondonMetric has bought two warehouses in Milton Keynes for £31.2m.

The two properties have been acquired in separate transactions and comprise a 66,000 sqft unit, which is let to TalkTalk as a data centre and has been acquired for £23.9m, and a  42,000 sqft urban logistics warehouse which is three miles from the centre of Milton Keynes and has a very low site density of 27%.

LondonMetric was advised by Knight Frank on the larger unit and by Allsop on the other building. OLIM Property Limited, who sold the larger unit for a discretionary investment management client, was advised by JLL.

Andrew Jones, Chief Executive of LondonMetric, said “Following our recently announced disposal of long let NNN retail assets, we are pleased to have quickly redeployed the proceeds into two high quality acquisitions let on very long leases with guaranteed rental growth.

“These assets are very well located in attractive urban geographies with strong infrastructure characteristics and provide high occupier contentment.”