Our Financial Services and Capital Markets team advised Urban Logistics REIT plc on the £700 million cash and share acquisition by LondonMetric Property plc.
The transaction, which was structured as a scheme of arrangement and governed by the UK Takeover Code, became effective on 23 June 2025.
Urban Logistics is a listed real estate investment trust (REIT) focused on single-let, 'last mile' urban logistics assets and a FTSE 250 constituent. This acquisition represented a compelling opportunity for both LondonMetric and Urban Logistics. The combined group will benefit from further scale with a pro forma market capitalisation of £4.4 billion, making LondonMetric one of the largest UK REITs by market capitalisation and consolidating its position as the UK's leading triple net lease REIT and a FTSE 100 company, providing enhanced access to capital and increasing share liquidity.
The Gowling WLG team was led by Partner Kris Rogers, and supported by Principal Associate Alex Davidson, Associate Freddie Whittle and trainee solicitor Arianna Lorentzos.
Kris Rogers said: "I'm pleased we have been able to support Urban Logistics REIT plc on this landmark transaction. The combination with LondonMetric Property plc represents a compelling strategic fit and a significant milestone in the evolution of the UK logistics real estate sector."
Gowling WLG's dedicated Financial Services and Capital Markets Group, is recognised as one of the leading practices in London. With wide ranging experience, acting for both companies and nominated advisers on IPOs, secondary fundraisings, public takeovers as well as advising on ongoing compliance and corporate governance issues.
With over 25 years of experience, Gowling WLG is consistently recognised among the top-tier firms for industrial and logistics (I&L) development, investment, and occupier advice. The dedicated I&L team offers a cradle to grave service, combining expertise across real estate, construction, planning, corporate, tax, and ESG.
Gowling WLG is ranked in Band 1 in both Legal 500 and Chambers and Partners for Listed Funds. Furthermore, Gowling WLG is ranked third amongst all law firms for the total number of clients quoted on the London Stock Exchange, with 84 clients. Gowling WLG are also in the top three law firms for total AIM clients, and top five for the Main Market.