Supermarket Income REIT has bought a Tesco-anchored site in Bristol for £84m.
The 19.8-acre site includes a 75,000 sq ft Tesco supermarket and online hub, with a 16-pump petrol filling station and 925 car-parking spaces. The site also includes an Iceland food warehouse as well as a Boots, Greggs, Costa Coffee and Pets at Home.
The deal reflects a net initial yield of 5.6%.
The site is being acquired from CBRE Investment Management.
The Tesco store has an unexpired lease term of 14 years, with annual, upwards-only, RPI-linked rent reviews.
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