Supermarket Income REIT’s rent roll has increase by 30% to £100m.
The REIT also pulled in operating profit of £79.8m, up 37% on the previous year.
This was in marked contrast to the value of its portfolio, which fell by £256m over the period. Its portfolio is currently valued at £1.69bn.
The REIT’s chair Nick Hewson said: “The UK grocery sector has again demonstrated resilience despite the challenging macroeconomic environment we have experienced during the year.”
He added that the REIT remained focused on its investment strategy of acquiring and managing omni-channel supermarkets.
“These give us exposure to the fastest growing segment of the UK grocery market, which itself is experiencing strong growth.”
During the year, Sainsbury’s bought the REIT’s interest in the 21-store Sainsbury’s Reversion Portfolio joint venture for £431m, which was redeployed into higher-yielding supermarkets by the REIT.
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