Supermarket Income REIT PLC Acquisition of Sainsbury's in Cheltenham (5484P)
October 11 2019 - 2:00AM
UK Regulatory
TIDMSUPR
RNS Number : 5484P
Supermarket Income REIT PLC
11 October 2019
Supermarket Income REIT
(the "Company")
LEI: 2138007FOINJKAM7L537
ACQUISITION OF A SAINSBURY'S SUPERMARKET IN Cheltenham,
Gloucestershire
Supermarket Income REIT (LSE: SUPR), the UK supermarket real
estate investor, announces the acquisition of a Sainsbury's
supermarket in Cheltenham, Gloucestershire, from Legal &
General for GBP60.4 million (excluding acquisition costs),
reflecting a net initial yield of 5.25%.
Originally developed in the 1980s, the store was extensively
refurbished and extended in 2007. Sainsbury's has a long history of
trading from this prominent seven-acre site.
The supermarket comprises 62,000 square feet net sales area with
a 12-pump petrol filling station and more than 390 parking spaces.
The store has multiple purpose-built distribution docks and
supports Sainsbury's online grocery fulfilment in the local area.
It is being acquired with an unexpired lease term of 13 years with
five-yearly, upward-only, RPI-linked rent reviews (subject to a cap
and floor).
Ben Green, Director of Atrato Capital, the Investment Advisor to
Supermarket Income REIT, said:
"With strong fundamentals, this Sainsbury's supermarket is an
excellent addition to our growing portfolio of omnichannel stores
and provides further investment diversification."
For further information, please contact:
Atrato Capital Limited
Ben Green
Steve Windsor
Steve Noble +44 (0)20 3790 8087
Stifel Nicolaus Europe Limited
Mark Young
Neil Winward
Tom Yeadon +44 (0)20 7710 7600
Tavistock
Jeremy Carey
James Whitmore +44 (0)20 7920 3150
NOTES TO EDITORS:
Supermarket Income REIT plc is listed on the London Stock
Exchange. SUPR acquires UK supermarket sites that form a key part
of the future model of grocery in the United Kingdom. SUPR aims to
provide long-term RPI-linked income, from institutional grade
tenants and the potential for capital growth through active asset
management. Atrato Capital is the Company's Investment Adviser.
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END
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