Supermarket Income REIT PLC ACQUISITION OF TESCO SUPERSTORE FOR £28.5 MILLION (3456O)
August 18 2017 - 1:00AM
UK Regulatory
TIDMSUPR
RNS Number : 3456O
Supermarket Income REIT PLC
18 August 2017
Supermarket Income REIT plc
("Supermarket Income REIT" or "the Company")
18 August 2017
ACQUISITION OF TESCO SUPERSTORE, BRISTOL, FOR GBP28.5
MILLION
Supermarket Income REIT (LSE: SUPR), the UK supermarket real
estate investor, announces that it has acquired the freehold of a
Tesco Superstore, Lime Trees Road, Bristol, from a client of
Aberdeen Asset Management for GBP28.5 million (net of acquisition
costs), reflecting a net initial yield of 4.9%.
The purchase has been funded out of the equity proceeds of the
IPO, with senior debt finance expected to be introduced in the near
term.
The store comprises 55,000 sq ft on a 5.7-acre site with more
than 450 parking spaces. It is being acquired with an unexpired
lease term of approximately 13.5 years, which is subject to annual,
upward-only, RPI-linked rent reviews with a cap at 4% and a floor
at zero and on full repairing and insuring terms.
Ben Green, Director of Atrato Capital, the Investment Adviser to
Supermarket Income REIT, said: "We are delighted to announce our
second property, with GBP72 million now invested since our IPO last
month. This Tesco Superstore is situated in a prime Bristol
location and has a long history of strong trading performance. This
investment will deliver an attractive inflation linked income
stream and offers excellent asset upside potential over the longer
term."
For further information, please contact:
Atrato Capital Limited +44 (0)20 3790 8087
Ben Green
Steve Windsor
Steve Noble
Stifel Nicolaus Europe Limited +44 (0)20 7710 7600
Mark Young
Neil Winward
Tom Yeadon
Tavistock +44 (0)20 7920 3150
Jeremy Carey
James Whitmore
James Verstringhe
NOTES TO EDITORS:
Supermarket Income REIT plc listed on the specialist fund
segment of the main market of the London Stock Exchange in July
2017. Its objective is to acquire a diversified portfolio of
supermarket real estate assets in the UK, providing long-term
RPI-linked income, from institutional grade tenants of significant
size and the potential for capital growth through active asset
management opportunities. Atrato Capital is the Company's
Investment Adviser.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQEAXPXFAEXEFF
(END) Dow Jones Newswires
August 18, 2017 02:00 ET (06:00 GMT)
Supermarket Income Reit (LSE:SUPR)
Historical Stock Chart
From Apr 2024 to May 2024
Supermarket Income Reit (LSE:SUPR)
Historical Stock Chart
From May 2023 to May 2024