REG - Supermarket Inc REIT - ACQUISITION OF A TESCO IN LLANELLI FOR £66.8M

Supermarket Income REITAnnouncement

14/09/2022 07:00

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RNS Number : 4052Z  Supermarket Income REIT PLC  14 September 2022

SUPERMARKET INCOME REIT PLC

(the "Company") 

LEI: 2138007FOINJKAM7L537 

 

Acquisition OF A TESCO IN LLANELLI FOR £66.8 MILLION

  

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 Tesco supermarket in Llanelli, South
Wales, for a total purchase price of £66.8 million (excluding acquisition
costs), reflecting a net initial yield of 5.3%.

 

The store was developed for Tesco in 1989 and occupies a 10 acre site
comprising a 82,046 sq ft net sales area supermarket, a 16-pump petrol filling
station and 753 car parking spaces. The store is an online hub for Tesco, with
10 home delivery vans and a dedicated Click & Collect facility in the car
park. The store is being acquired from M&G with an unexpired lease term of
12 years, with annual, upwards only RPI-linked rent reviews (subject to a 5.0%
cap and 0.0% floor).

 

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

 

"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."

 

 

 FOR FURTHER INFORMATION                                                                           
 Atrato Capital Limited                                                                           +44 (0)20 3790 8087 
                                  
 Steven Noble / Rob Abraham / Carcie Rogers                                                       ir@atratocapital.com (mailto:ir@atratocapital.com)   

 Stifel Nicolaus Europe Limited                                                                   +44 (0)20 7710 7600 
 Mark Young / Matt Blawat / Rajpal Padam                                                           
                                                                                                   
 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 74 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((2)). The Company has increased its dividend every year since IPO.

 

The Company is listed on the premium segment of the Official List of the UK
Financial Conduct Authority and its Ordinary Shares are traded on the Main
Market of the London Stock Exchange, having listed initially on the
Specialist Fund Segment of the Main Market 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. 48 directly owned supermarkets, plus 26 via joint venture. Please note that
it was announced in January 2022 that Sainsbury's exercised its options to
acquire a total of 21 of the 26 stores in the portfolio. The Sainsbury's
acquisition of the stores will be completed in two tranches: 13 in March 2023
and 8 in July 2023. Further information is available on the company's website.

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

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