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Iain Gilbert Sharecast News
14 Sep, 2022 08:01

Supermarket Income REIT acquires Llanelli Tesco

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Supermarket Income Reit

69.60p

15:39 22/11/24
1.31%
0.90p

Real estate investor Supermarket Income REIT has acquired a Tesco supermarket in Llanelli, South Wales, for a total purchase price of £66.8m.

FTSE 250

20,584.46

15:45 22/11/24
n/a
n/a

FTSE 350

4,551.10

15:45 22/11/24
n/a
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FTSE All-Share

4,506.61

15:45 22/11/24
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Real Estate Investment Trusts

2,136.31

15:44 22/11/24
2.10%
43.85

Supermarket Income REIT said on Wednesday that the store, which was developed for Tesco in 1989, occupies a 10-acre site with an 82,046 square foot net sales area supermarket, a 16-pump petrol filling station, and 753 car parking spaces.

The FTSE 250-listed group store was acquired from M&G with an unexpired lease term of 12 years, with annual, upwards only RPI-linked rent reviews.

Supermarket Income REIT added that the purchase price reflected a net initial yield of 5.3%.

"This acquisition further strengthens SUPR's portfolio of top trading omnichannel supermarkets. The store has strong trading fundamentals, comes at an accretive acquisition yield, and is subject to annual index-linked rent reviews," said Ben Green, a director at Supermarket Income REIT's investment advisor Atrato Capital.

Reporting by Iain Gilbert at Sharecast.com

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