The trust has bought the supermarket chain’s store in Cheltenham from Legal & General for £60.4mln, which equates to a net initial yield of 5.25%.
As well as a petrol station, the 62,000 sq ft store has multiple purpose-built distribution docks and supports Sainsbury's online grocery fulfilment in the local area, which is a key feature of all the properties in the REIT’s portfolio.
The Cheltenham store has an unexpired lease term of 13 years with five-yearly, upward-only, RPI-linked rent reviews.
Originally developed in the 1980s, the shop was extensively refurbished and extended in 2007.
Ben Green, Director of Atrato Capital, the REIT’s investment adviser, said: "With strong fundamentals, this Sainsbury's supermarket is an excellent addition to our growing portfolio of omnichannel stores and provides further investment diversification."
With this latest addition, Supermarket Income will have nine stores in its portfolio five of which are let to Tesco, three to Sainsbury’s and one to Morrisons.