leadf
logo-loader
viewSupermarket Income REIT PLC
(
LSE:SUPR
)

Supermarket Income REIT buys Tesco-occupied site in Colchester

“The property has strong underlying fundamentals and forms a key part of the Tesco online fulfilment network."

Supermarket Income REIT PLC -

Supermarket Income REIT PLC (LON:SUPR) acquired a Tesco-occupied supermarket in Colchester, Essex from the Standard Life Investments Long Lease Fund for £63mln.

Excluding acquisition costs, the purchase price represents a net initial yield of 4.5%, the REIT said.

The site was refurbished in 2011, it added, and comprises a 54,300 sq ft net sales area supermarket, a 16-pump petrol filling station and 570 parking spaces.

The store has several online fulfilment distribution docks supporting Tesco's online grocery business across the region.

It is being acquired with an unexpired lease term of 19 years, with annual, upwards only, inflation-linked rent reviews.

Ben Green, director of Atrato Capital, SUPR’s adviser said: “This Tesco store is a great addition to our growing portfolio of omnichannel stores with an attractive, long, index-linked lease in excess of 19 years. 

“The property has strong underlying fundamentals and forms a key part of the Tesco online fulfilment network."

Quick facts: Supermarket Income REIT PLC

Follow
LSE:SUPR

Price: 118.52 GBX

Market Cap: £961.22 m

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 named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Supermarket Income REIT snap up six new acquisitions

Supermarket Income REIT PLC (LSE:SUPR)'s (LSE:SUPR) has acquired six supermarkets for a total purchase price of £113.1mln, including Marks & Spencer as a tenant for the first time. Steven Noble from Atrato Capital explains the rationale behind the purchases which consist of a Tesco in...

1 day, 19 hours ago

2 min read