Supermarket Inc REIT - Acquisition of Sainsbury's in Cheltenham
ACQUISITION OF A SAINSBURY'S SUPERMARKET IN
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).
"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:
+44 (0)20 3790 8087
+44 (0)20 7710 7600
+44 (0)20 7920 3150
NOTES TO EDITORS:
This information is provided by RNS, the news service of the
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