Business
ACQUISITION OF A SAINSBURY'S IN NORTHERN IRELAND
ACQUISITION OF A SAINSBURY'S IN NORTHERN IRELAND.
About this update from Supermarket Income Reit Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3104P\n Supermarket Income REIT PLC\n 17 February 2021\n \n \n \n \n SUPERMARKET INCOME REIT PLC\n \n \n (the \"Company\")\n \n LEI: 2138007FOINJKAM7L537\n \n \n acquisition of a Sainsbury's supermarket IN County Down, Northern Ireland\n \n \n \n \n \n \n Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-protected, long income from grocery property in the UK, announces the acquisition of a Sainsbury's supermarket in Bangor, County Down, Northern Ireland, from John Morgan Estates Limited. \n \n \n Developed in 2011, this prominent 10-acre site comprises a modern\n 44,000 sq ft net sales area supermarket with 650 parking spaces and an 8-pump petrol filling station. The supermarket has been acquired with an unexpired lease term of 15 years with 5-yearly rent reviews subject to 2% fixed annually compounded uplifts. \n \n \n The site occupies a key location on the West Circular Corridor connecting directly to Belfast City and Newtownards. The acquisition includes an adjoining Homebase unit with a net sales area of 33,000 sq ft and an unexpired lease term of 10 years with 5-yearly, open market rent reviews.\n \n \n The total consideration for the site is £24.8 million (excluding acquisition costs) representing a combined net initial yield of 6.6%.\n \n Ben Green, Director of Atrato Capital Limited, the Investment Adviser to Supermarket Income REIT, said: \n \n \n \"This Sainsbury's store, which has strong trading fundamentals and attractive lease terms, is a welcome addition to Supermarket Income REIT's portfolio. This income accretive acquisition is our first in Northern Ireland, adding further geographical diversification to our growing portfolio of UK supermarkets.\"\n \n \n \n \n \n \n \n \n \n FOR FURTHER INFORMATION\n \n \n \n \n \n \n \n \n \n Atrato Capital Limited \n \n \n \n \n +44 (0)20 3790 8087\n \n \n \n \n \n \n Ben Green / Steve Windsor / Steve Noble \n \n \n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n Stifel Nicolaus Europe Limited \n \n \n \n \n +44 (0)20 7710 7600\n \n \n \n \n \n \n Mark Young / Matt Blawat\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n FTI Consulting \n \n \n \n \n +44 (0)20 3727 1000\n \n \n \n \n \n \n Dido Lau...