Business
ACQUISITION OF A TESCO IN SHEFFIELD FOR £73.2 M
ACQUISITION OF A TESCO IN SHEFFIELD FOR £73.2 M.
About this update from Supermarket Income Reit Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1084W\n Supermarket Income REIT PLC\n 20 December 2021\n \n \n \n \n \n SUPERMARKET INCOME REIT PLC\n \n \n \n \n (the \"Company\") \n \n LEI: 2138007FOINJKAM7L537 \n \n \n ACQUISITION OF a TESCO in Sheffield\n \n \n FOR £73.2 MILLION\n \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 Sheffield, Yorkshire,\n for a purchase price of £73.2 million (excluding acquisition costs), representing a net initial yield of 4.5%. \n \n \n \n \n The store was developed for Tesco in 2011 and occupies a 7.0 acre site comprising an 88,000 sq ft net sales area supermarket, a 12-pump petrol filling station and 640 car parking spaces. The store serves as a hub for omnichannel fulfilment in the region, operating 14 home delivery vans and click & collect functionality. The asset is being acquired with an unexpired lease term of 17 years, with annual, upwards only, RPI-linked rent reviews (subject to a 4.0% cap and 0.0% floor).\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 latest acquisition further strengthens Supermarket Income REIT's portfolio of omnichannel supermarkets, which represent the future model for grocery in the UK. The store has attractive underlying fundamentals and a lease that is both index-linked and accretive to the portfolio in respect of its unexpired lease term.\"\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 \n \n Atrato Capital Limited\n \n \n \n \n \n \n \n \n +44 (0)20 3790 8087 \n \n \n \n \n \n \n Steve 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 Stifel Nicolaus Europe Limited\n \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...