Business
ACQUISITION OF A TESCO IN LLANELLI FOR £66.8M
ACQUISITION OF A TESCO IN LLANELLI FOR £66.8M.
About this update from Supermarket Income Reit Plc
[{"type":"text","content":"\n \n \n \n SUPERMARKET INCOME REIT PLC\n \n \n \n (the \"Company\") \n \n \n LEI: 2138007FOINJKAM7L537 \n \n \n \n Acquisition OF A TESCO IN LLANELLI FOR £66.8 MILLION\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 Tesco supermarket in Llanelli, South Wales, for a total purchase price of £66.8 million (excluding acquisition costs), reflecting a net initial yield of 5.3%.\n \n \n \n \n \n The store was developed for Tesco in 1989 and occupies a 10 acre site comprising a 82,046 sq ft net sales area supermarket, a 16-pump petrol filling station and 753 car parking spaces. The store is an online hub for Tesco, with 10 home delivery vans and a dedicated Click & Collect facility in the car park. The store is being acquired from M&G with an unexpired lease term of 12 years, with annual, upwards only RPI-linked rent reviews (subject to a 5.0% cap and 0.0% floor).\n \n \n \n \n \n \n Ben Green, Director of Atrato Capital Limited, the Investment Adviser to Supermarket Income REIT plc, said: \n \n \n \n \n \n \n \n \"This acquisition further strengthens SUPR's portfolio of top trading omnichannel supermarkets. The store has strong trading fundamentals, comes at an accretive acquisition yield and is subject to annual index-linked rent reviews.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n FOR FURTHER INFORMATION\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Atrato Capital Limited\n \n \n \n \n \n \n \n +44 (0)20 3790 8087 \n \n \n \n \n \n \n Steven Noble / Rob Abraham / Carcie Rogers \n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n Stifel Nicolaus Europe Limited\n \n \n \n \n \n \n \n \n \n \n +44 (0)20 7710 7600 \n \n \n \n \n \n \n Mark Young / Matt Blawat / Rajpal Padam \n \n \n \n \n \n \n \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 \n \n \n +44 (0)20 3727 1000 \n \n \n \n \n \n \n Dido Laurimore / Eve Kirmatzis / Andrew Davis \n \n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n NOTES TO EDITORS:\n \n \n \n \n Supermarket Income REIT plc (LSE: SUPR) is a real estate ...