leadf
logo-loader
viewSupermarket Income REIT PLC

Supermarket Income REIT buys Wisbech Morrisons store for £30mln

Built in the 1980s, the supermarket was refurbished and extended in 2011 to cover 37,000 square feet

Supermarket Income REIT PLC -

Supermarket Income REIT PLC (LON:SUPR) said it has bought a Morrisons store in Wisbech, Cambridgeshire, from Aberdeen Standard Investments for £30mln.

The total amount paid (excluding acquisition costs) represents a combined net initial yield of 5.0%.

Built in the 1980s, the supermarket was refurbished and extended in 2011 to cover 37,000 square feet.

It comes with a new 26-year lease - with a tenant break option at 20 years - and is subject to five yearly, upwards only, retail price-linked rent reviews (capped at 3% cap and with a 1.5% floor).

The store forms a key part of Morrisons' online grocery fulfilment network.

The prominent nine-acre includes two adjoining units with 36,000 square feet of net sales area let to B&Q and B&M with a weighted unexpired lease term of eight years.

In a statement, Ben Green, director of Atrato Capital, the investment adviser to Supermarket Income REIT, said: "This modern store is a great addition to our growing portfolio of omnichannel stores. The property has strong underlying fundamentals with an attractive lease term providing inflation-linked income in excess of 20 years."

Quick facts: Supermarket Income REIT PLC

Price: 107.5 GBX

LSE:SUPR
Market: LSE
Market Cap: £7.19 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Supermarket Income REIT PLC named herein, including the promotion by the Company of Supermarket Income REIT PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Supermarket Income REIT reaps the benefits of grocery shopping demand

Supermarket Income REIT's (LON:SUPR) Managing Director Steven Noble, Natalie Markham (CFO) and Haffiz Kala, the Finance Director,  joins Proactive London to discuss their latest performance.  During the last six months, the REIT  has bought 13 supermarket properties worth...

3 days, 6 hours ago

2 min read