REG - Supermarket Inc REIT - £75.8M ACQUISITION OF A SAINSBURY’S SUPERMARKET

Supermarket Income REITAnnouncement

01/12/2021 07:00

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RNS Number : 1108U  Supermarket Income REIT PLC  01 December 2021

SUPERMARKET INCOME REIT PLC

(the "Company")

LEI: 2138007FOINJKAM7L537

 

ACQUISITION OF a SAINSBURY'S SUPERMARKET FOR £75.8M

 

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust
providing secure, inflation-protected, long income from grocery property in
the UK, announces the acquisition of a Sainsbury's supermarket in Cannock,
Staffordshire, from a client of CBRE Investment Management for £75.8 million
(excluding acquisition costs), representing a net initial yield of 4.0%.

 

The Sainsbury's store opened in 1997 and was extensively refurbished in
2011. This 9.1 acre site comprises a 73,000 sq ft net sales area supermarket,
a 12-pump petrol filling station and 490 car parking spaces. The store has a
purpose-built online fulfilment centre which operates 12 vans, forming a key
part of Sainsbury's online grocery network across the region. The asset is
being acquired with an unexpired lease term of 15 years, with five-yearly,
upwards only, RPI-linked rent reviews (subject to a 4.0% cap and 1.0% floor).

 

Ben Green, Director of Atrato Capital Limited, the Investment Adviser to
Supermarket Income REIT plc, said:

 

"This Sainsbury's in Cannock is an excellent addition to our growing portfolio
of high-quality omnichannel stores and was funded using proceeds from the
recently oversubscribed equity issue.  The property has strong trading
fundamentals and forms a key part of Sainsbury's online fulfilment network."

 

 FOR FURTHER INFORMATION

 Atrato Capital Limited                                                                             +44 (0)20 3790 8087
 Steve Noble / Rob Abraham / Carcie Rogers                                                          ir@atratocapital.com (mailto:ir@atratocapital.com)
                                                                                                    +44 (0)20 7710 7600

 Stifel Nicolaus Europe Limited
 Mark Young / Matt Blawat

 FTI Consulting                                                                                     +44 (0)20 3727 1000

 Dido Laurimore / Eve Kirmatzis / Andrew Davis                                                      SupermarketIncomeREIT@fticonsulting.com
                                                                                                    (mailto:SupermarketIncomeREIT@fticonsulting.com)

NOTES TO EDITORS:

Supermarket Income REIT plc (LSE: SUPR) is a real estate investment trust
dedicated to investing in grocery properties which are an essential part of
the UK's feed the nation infrastructure. The Company focuses on grocery stores
which are omnichannel, fulfilling online and in-person sales. All of the
Company's 64 supermarkets((1)) are let to leading UK supermarket operators,
diversified by both tenant and geography.

 

The Company provides investors with attractive, long-dated, secure,
inflation-linked, growing income with the potential for capital appreciation
over the longer term and targets a 7% to 10% p.a. total shareholder return
over the medium term((2)). The Company has increased its dividend target in
line with UK RPI inflation each year.

 

The Company's ordinary shares were admitted to trading on the Main Market of
the London Stock Exchange, Specialist Fund Segment, on 21 July 2017.

Atrato Capital Limited is the Company's Investment Adviser.

Further information is available on the Company's
website www.supermarketincomereit.com (http://www.supermarketincomereit.com/)
 

1.             38 directly owned supermarkets, plus 26 via joint
venture

2.             There is no certainty that these illustrative
projections will be achieved

 

 

 

 

 

 

 

 

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