Real estate investment firm Supermarket Income REIT has acquired six major grocery assets including Sainsbury’s, Morrisons and M&S stores.
The latest acquisitions include a 74,000 sq ft Sainsbury’s supermarket in Macclesfield, an 80,000 sq ft Morrisons in Leeds, and a 10,000 sq ft M&S in Glasgow.
The £104m portfolio also includes a 50,000 sq ft M&S-anchored retail park in Nottinghamshire, a 67,000 sq ft Sainsbury’s distribution centre in Avonmouth, and a 4,000 sq ft Co-op store in Birmingham.
The deal means the proceeds of a £100m equity raise by Supermarket Income REIT in July this year have now been fully deployed. The investment fund also exchanged contracts to acquire a portfolio of three supermarkets for £118m in July.
“These acquisitions add six high-quality grocery assets to our portfolio, marking the completion of the deployment of the proceeds of our £100m equity raise in July,” said Supermarket Income REIT CEO Rob Abraham.
“We are pleased to have delivered this compelling pipeline of acquisitions within two months. Importantly, these acquisitions represent further progress in our strategy to diversify the portfolio, adding grocery distribution and additional exposure to grocery-anchored retail, to our core UK food stores which span larger, omnichannel supermarkets, through to convenience.”
Supermarket Income REIT owns a portfolio of retail assets worth about £2bn, including Tesco, Sainsbury’s, Asda, Morrisons, M&S, Waitrose and Aldi stores. The company is due to announce its annual results on Wednesday.
No comments yet