Supermarket Inc REIT - Acquisition of Sainsbury's store and new loan
ACQUISITION OF A SAINSBURY'S SUPERMARKET AND NEW LOAN FACILITY
Originally developed in 1992, and extensively refurbished in 2010, Sainsbury's has a long history of trading from this prominent 10 acre site adjacent to
It is being acquired with an unexpired lease term of 22.5 years with annual, upward-only, RPI-linked rent reviews (subject to a 4% cap and 1% floor).
The Company has also arranged a new five-year, interest-only, term loan facility with Dekabank. This
"This Sainsbury's supermarket is a great addition to our growing portfolio of omnichannel stores. The property has very attractive lease terms, strong fundamentals and provides further diversification to the portfolio.
"We are delighted to have secured Dekabank as a new lender to the Group. Our new facility provides us with very competitively-priced, five-year funding with room to grow to support the Company's future investment requirements".
For further information, please contact:
Tavistock +44 (0)20 7920 3150
NOTES TO EDITORS:
This information is provided by RNS, the news service of the
Quick facts: Supermarket Income REIT PLC
Market Cap: £511.51 m
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