Supermarket Income Reit PLC (LON:SUPR)

Supermarket Income Reit PLC (LON:SUPR)


Share Price
104.70 p
Change
0.2 (0.19 %)
Market Cap
£251.11 m
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Supermarket Income Reit PLC

Supermarket Income REIT plc (SUPR) is a real estate investment trust dedicated to investing in supermarket property forming a key part of the future model of UK grocery. We acquire omnichannel supermarkets which operate both as physical supermarkets and as online fulfilment centres. Our portfolio is let on fully repairing and insuring lease terms, with upward-only, RPI-linked rent reviews...

EPIC: SUPR
Market: LSE:SUPR
52-week High/Low: 106.00p / 94.86p
Sector: Real Estate
Market Cap: £251.11 m
Website: www.supermarketincomereit.com
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Big Picture – A Deep Dive Examination of Supermarket Income Reit PLC


Supermarket Income Reit PLC Snapshot

OUR INVESTMENT POLICY

  • We invest in principally freehold and long leasehold operational properties let to UK supermarket operators
  • We aim to provide shareholders with a long term growing income stream backed by high quality tenant covenants
  • We target future-proof supermarkets, i.e. stores operating both as a physical supermarket and as an online fulfilment centre
  • We buy supermarket property assets with long unexpired lease terms - targeting ​an average portfolio unexpired lease term of more than 15 years to first break
  • Our tenant leases have contractual, upward only, rental uplifts in order to provide investors with income security and considerable inflation protection
  • We invest in supermarket real estate that is fully let to the four largest UK supermarket operators by market share, currently Tesco, Sainsbury’s, Asda and Morrisons
  • We may also invest in assets let to other supermarket operators such as Aldi, Lidl, Marks & Spencer or Waitrose, where we believe there is value to shareholders commensurate with the quality of the covenant
  • We seek to diversify our portfolio's exposure geographically
  • We targets assets that offer capital growth potential through asset management, e.g. installation of renewable/sustainable energy and/or change of use on surplus space/car parking​

PROPERTY PORTFOLIO*

£366m
VALUATION

£19.1m
PASSING RENT

19 years
WAULT

5.0%
VALUATION YIELD

100%
RPI LINKED
RENT REVIEWS

Our properties are fully let on long indexed linked leases to the biggest names in the UK grocery sector with excellent covenant strength

1. Sainsbury's, Ashford (INFO) (MAP)

2. Morrisons, Sheffield (INFO) (MAP)

3. Tesco, Cumbernauld (INFO) (MAP)

4. Tesco, Scunthorpe (INFO) (MAP)

5. Tesco, Thetford (INFO) (MAP)

6. Tesco, Bristol (INFO) (MAP)

7. Tesco, Mansfield (INFO) (MAP)

 

United Kingdom.

Ben Green

Ben has over 20 years’ of experience structuring and executing real estate transactions and has completed £4 billion of supermarket sale and leaseback transactions over the course of his career. Ben qualified as a lawyer in 1997 and worked at Wilde Sapte and Linklaters LLP. He left law in 2000 and has since spent his career at Barclays, Lloyds and Goldman Sachs where he was a Managing Director and European Head of Structured Finance.

Steve Windsor

Steve spent 16 years at Goldman Sachs specialising in finance and risk management. Steve became a partner at Goldman Sachs in 2008 and headed Goldman Sachs' European, Middle East and African Debt Capital Markets and Risk Management businesses from 2010 until 2016. Steve has helped and advised a number of FTSE 100 companies on how to finance their business and manage risk. Steve was a member of the Goldman Sachs Investment Banking Risk Committee.

Steven Noble

Steven spent nine years at Lloyds in origination and risk management with a focus on commercial real estate. Steven has negotiated and executed over £240 million of Supermarket Property transactions. Prior to Lloyds, Steven was at KPMG where he qualified as a chartered accountant. Steven is a fellow of the Institute of Chartered Accountants Ireland and holds the Chartered Financial Analyst designation.

Natalie Markham

Natalie was previously chief financial officer at Macquarie Global Property Advisors Europe. Natalie was also a member of the MGPA European management team and a director of the MGPA European advisory business. Natalie was involved in the development of business strategy, financial planning and responsible for all aspects of the financial management of the business. Natalie qualified as a chartered accountant in 2000 and is a fellow of the Institute of Chartered Accountants of England and Wales.

JUSTIN KING

Justin was Chief Executive of Sainsbury's for 10 years until 2014 and has previously held senior roles at Asda and Staples. Justin continues to serve as Vice Chairman of Terra Firma Capital and sits on the board of Marks & Spencer. He possesses considerable experience of the wider grocery sector alongside a deep understanding of grocery property strategy.

Christopher Fearon

Christopher provides research analysis on potential acquisitions and asset management initiatives. He has several years experience working for multi sector asset managers and holds an MSc in Real Estate from CASS Business School.

Lara Townsend

Lara was previously at Lloyds Banking Group for 18 years, latterly a director in the corporate solutions team. Before that she held a variety of roles giving her extensive real estate and infrastructure experience.

Sandeep Patel

Sandeep is a fellow of the Association of Certified Chartered Accountants. He trained at Ernst & Young, following which he spent 10 years at Lloyds Banking Group in a variety of senior Accounting & Finance positions.

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Supermarket Income REIT plc

Telephone: +44 20 3790 8087

Email: [email protected]

Office Address:

8 Greencoat Place​

London

SW1P 1PL

 

Media enquires:

Tavistock

James Whitmore

Telephone: +44 207 920 3150

Email: [email protected]

Property enquires:

Steven Noble

Telephone: +44 20 3884 2374

Email:  [email protected]

Investor Relations:

Atrato Capital

Telephone: +44 20 3884 2374

Email: [email protected]

Stockbroker:

Stifel Nicolaus Europe

Telephone: +44 207 710 7600

Email: [email protected]

Company Secretary

JTC Group

Telephone: +44 20 3893 1005

Email:  [email protected]

Company Registrar:

Link Asset Services

Email: [email protected]

The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU

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