Supermarket Income Reit PLC (LON:SUPR) shares nudged higher on Wednesday as the group saw increased rents for two properties in its portfolio.
The firm said a retail price index (RPI) rent review for its Sainsbury’s supermarket in Ashford, Kent, had resulted in the annual lease payment rising to £4.04mln from £3.93mln per annum.
READ: Supermarket Income REIT acquires Sainsbury's store in Cheltenham
Meanwhile, a similar review for its Tesco superstore in Thetford, Norfolk, will see rents rise to £2.72mln from £2.64mln per annum.
As a result, the company said total rents from its portfolio have increased to £26mln.
“The conclusion of these reviews underlines the attractive, RPI rent reviews that are a feature of all our leases", said the company’s investment advisor Ben Green in a statement.
Supermarket Incone REIT shares rose 0.5% to 107p in early trading.