We are pleased to have successfully raised £100 million through an equity offering. We have seen strong investor demand for this issue, supported by both existing shareholders and new investors joining our register.
The proceeds from the raise have been fully deployed into £222 million of grocery assets, at an average net initial yield of 6.6% and a WAULT of 10 years.
Rob Abraham, Chief Executive Officer of the Company, said:
“We are delighted to have received such strong levels of support from both new and existing shareholders for this raise, reflecting the attractive investment proposition grocery real estate continues to offer. This capital will enable us to acquire a strong pipeline of assets to drive future earnings growth and support our ambitions to double the size of our portfolio. We would like to thank our shareholders for their continued support as we cement our position as the UK’s leading grocery landlord.”