Business
£75.8M ACQUISITION OF A SAINSBURY'S SUPERMARKET
£75.8M ACQUISITION OF A SAINSBURY'S SUPERMARKET.
About this update from Supermarket Income Reit Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1108U\n Supermarket Income REIT PLC\n 01 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 SAINSBURY'S SUPERMARKET \n \n \n FOR £75.8M\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 Sainsbury's supermarket in Cannock, Staffordshire, from a client of CBRE Investment Management for £75.8 million (excluding acquisition costs), representing a net initial yield of 4.0%.\n \n \n \n The Sainsbury's store opened in 1997 and was extensively refurbished in 2011. This 9.1 acre site comprises a 73,000 sq ft net sales area supermarket, a 12-pump petrol filling station and 490 car parking spaces. The store has a purpose-built online fulfilment centre which operates 12 vans, forming a key part of Sainsbury's online grocery network across the region. The asset is being acquired with an unexpired lease term of 15 years, with five-yearly, upwards only, RPI-linked rent reviews (subject to a 4.0% cap and 1.0% floor).\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 Sainsbury's in Cannock is an excellent addition to our growing portfolio of high-quality omnichannel stores and was funded using proceeds from the recently oversubscribed equity issue. The property has strong trading fundamentals and forms a key part of Sainsbury's online fulfilment network.\" \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 +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 &nb...