Supermarket Income REIT buys Tesco site for £38.3m
Supermarket Income Reit
68.50p
15:44 15/11/24
0.74%
0.50p
Supermarket Income REIT said it had bought a Tesco omnichannel supermarket in Worcester for £38.3m.
FTSE 250
20,508.75
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
n/a
n/a
Real Estate Investment Trusts
2,144.53
15:44 15/11/24
0.62%
13.29
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