Supermarket Inc REIT - Acquisition of a Tesco store and new loan facility
acquisition of a tesco supermarket and new loan facility
Tesco has a long history of trading from this prominent 9-acre site which was originally developed in the 1980s and completely rebuilt in 2016.
The site comprises a 68,000 sq ft net sales area Tesco Extra with a 12-pump petrol filling station, 654 parking spaces and purpose-built online fulfilment distribution docks, supporting Tesco's online grocery business across the region. It is being acquired with an unexpired lease term of 16 years with annual, upward-only, RPI-linked rent reviews (subject to a 5% cap and 0% floor).
The Company has also arranged a new revolving credit facility ("RCF") of
"We are also delighted to have secured Wells Fargo as a new lender to
FOR FURTHER INFORMATION
Stifel Nicolaus Europe Limited +44 (0)20 7710 7600
Jeremy Carey ([email protected]) +44 (0)78 3673 4625
James Whitmore ([email protected]) +44 (0)77 4093 1042
NOTES TO EDITORS:
Supermarket Income REIT plc (LSE: SUPR) is a real estate investment trust dedicated to investing in grocery properties which are an essential part of the UK's feed the nation infrastructure. The Company focuses on grocery stores which are omnichannel, fulfilling online and in-person sales. All of the Company's 17 properties are let to leading UK supermarket operators, diversified by both tenant and geography.
The Company provides investor with attractive, long-dated, secure, inflation-linked, growing income with the potential for capital appreciation over the longer term and targeting a 7% to 10% p.a total shareholder return over the medium term(1). The Company has increased its dividend target in line with UK RPI inflation each year
The Company's ordinary shares were admitted to trading on the Main Market of the
Further information is available on the Company's website www.supermarketincomereit.com
(1) There is no certainty that these illustrative projections will be achieved
This information is provided by RNS, the news service of the
Quick facts: Supermarket Income REIT PLC
Market Cap: £691.83 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE