Supermarket Income REIT
(the 'Company')
LEI: 2138007FOINJKAM7L537
ACQUISITION OF A SAINSBURY'S SUPERMARKET IN Cheltenham, GloucestershireSupermarket Income REIT (LSE: SUPR), the UK supermarket real estate investor, announces the acquisition of a Sainsbury's supermarket in Cheltenham, Gloucestershire, from Legal & General for £60.4 million (excluding acquisition costs), reflecting a net initial yield of 5.25%.
Originally developed in the 1980s, the store was extensively refurbished and extended in 2007. Sainsbury's has a long history of trading from this prominent seven-acre site.
The supermarket comprises 62,000 square feet net sales area with a 12-pump petrol filling station and more than 390 parking spaces. The store has multiple purpose-built distribution docks and supports Sainsbury's online grocery fulfilment in the local area. It is being acquired with an unexpired lease term of 13 years with five-yearly, upward-only, RPI-linked rent reviews (subject to a cap and floor).
Ben Green, Director of Atrato Capital, the Investment Advisor to Supermarket Income REIT, said:
'With strong fundamentals, this Sainsbury's supermarket is an excellent addition to our growing portfolio of omnichannel stores and provides further investment diversification.'
For further information, please contact:
Atrato Capital Limited Ben Green Steve Windsor Steve Noble | +44 (0)20 3790 8087 |
Stifel Nicolaus Europe Limited Mark Young Neil Winward Tom Yeadon | +44 (0)20 7710 7600 |
Tavistock Jeremy Carey James Whitmore | +44 (0)20 7920 3150 |
NOTES TO EDITORS:
Supermarket Income REIT plc is listed on the London Stock Exchange. SUPR acquires UK supermarket sites that form a key part of the future model of grocery in the United Kingdom. SUPR aims to provide long-term RPI-linked income, from institutional grade tenants and the potential for capital growth through active asset management. Atrato Capital is the Company's Investment Adviser.
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Supermarket Income REIT plc published this content on 11 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2019 06:20:04 UTC