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Sainsbury’s exercises option to buy a further 8 stores

SUPR has announced today that Sainsbury’s has exercised its second option to acquire 8 stores within the Sainsbury’s Reversion Portfolio in July 2023. This announcement follows on from the first option Sainsbury’s exercised on 10 September 2021 to acquire 10 stores in March 2023.

The existing leases remain in place until 2023. The price for the purchase of these stores will be determined on the basis of new 20 year leases and paid in 2023.

The Sainsbury’s Reversion Portfolio of 26 stores is owned by SUPR in a joint venture with the British Airways Pension Fund. SUPR and BA have a 51% interest, Sainsbury’s owns the remaining 49%.

Ben Green, Director of Atrato Capital Limited, the Investment Adviser to Supermarket Income REIT plc, said: “Sainsbury’s buyback of these stores is further evidence of the strength of demand for grocery property in the UK. The exercise of these purchase options is expected to generate a positive NTA impact for Supermarket Income REIT.”

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