Supermarket Income REIT (LON:SUPR) has made another addition to its growing portfolio of omnichannel sites with the acquisition of a Tesco outlet in Bracknell.
The 7.3-acre site comprises a food store and a 400-space surface car park alongside several purpose-built online distribution docks that support Tesco's online grocery business in the area.
The trust is acquiring the store from a client of CBRE Global Investors for £39.5mln, reflecting a net initial yield of 5.7%.
The site has an unexpired lease term of 10 years with annual, upward only, RPI-linked rent reviews.
Supermarket Income said it will finance the deal through a £40mln increase in its £100mln revolving credit facility with HSBC at a borrowing cost of 1.75% over 3-month Libor.
In a statement, Ben Green Director of Atrato Capital, the Investment Adviser to Supermarket Income REIT said: "This omnichannel Tesco supermarket is an excellent addition to our portfolio. The store is situated in a prime location and is an important online grocery fulfilment hub, supporting both home delivery and click and collect."
The trust said it has also published an updated Key Information Document (KID), which is available at https://www.supermarketincomereit.com/investor-centre.