We are pleased to announce our latest acquisition of an omnichannel Tesco in Worcester for £38.3m, reflecting a net initial yield of 6.0%.
Tesco has been operating at the 6.5 acre site for over 30 years, highlighting the strong trading location. The 47,297 sq ft net sales area supermarket is also an online hub for Tesco, operating nine home delivery vans and a Click & Collect facility.
The lease has an unexpired lease term of 12 years, with annual upwards only RPI-linked rent reviews (subject to a 4.0% cap and 0.0% floor).
Ben Green, Director of Atrato Group, the Investment Adviser to Supermarket Income REIT plc, said:
“This acquisition further strengthens SUPR’s portfolio of top trading omnichannel supermarkets, evidencing our ability to redeploy the proceeds of the Sainsbury’s Reversion Portfolio sale at yields which are accretive to the portfolio.”
Read the RNS here: https://lnkd.in/eX3dwfmp
