Supermarket Income REIT buys Tesco site for £38.3m

Supermarket Income REIT said it had bought a Tesco omnichannel supermarket in Worcester for £38.3m.

Tesco has been operating at the 6.5 acre site for over 30 years, the company said on Monday. The site is made up of supermarket, a petrol station and large car park.

It is also an online hub for Tesco operating nine home delivery vans and a Click & Collect facility. The store is being acquired from British Steel Pension Fund, with 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).

Reporting by Frank Prenesti for Sharecast.com