London & Stamford Property Ltd. (LSP.LN) Wednesday said it has bought a distribution center for GBP19.6 million, just hours after announcing it had exchanged contracts on a retail park for GBP60.9 million.

The property investor said it has bought the 341,320 square feet distribution unit from fund Phoenix Life Ltd., which it let to U.K. supermarket chain Somerfield Stores Ltd. Somerfield is a guarantor for a further 18.4 years with a rent of GBP1.8 million a year.

Earlier Wednesday the company announced it has exchanged contracts to acquire the 291,471 square feet Racecourse Retail Park in Aintree, northern England from a subsidiary of Land Securities Group PLC (LAND.LN).

The property investor has made five investments in the past four months, including an office building in Leeds and a 50% stake in Sheffield's Meadowhall Shopping Center.

At 1243 GMT shares were down 0.25 pence, or 0.2%, at 122.8 pence, slightly outperforming the wider AIM market which was down 0.9%.

Company Web site: www.londonandstamford.com

-By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com
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