Supermarket Income REIT has snapped up six supermarkets for £113m in a series of deals.
The acquisitions, reflecting a combined net initial yield of 4.6%, consist of a Tesco in Prescot, a brace of Morrisons in Durham and Cumbria, an Aldi in Oldham and both an Aldi and M&S Foodhall in Liverpool.
The REIT paid an unnamed vendor £50m for the Tesco site in Prescot, Merseyside. Janus Henderson UK Property PAIF sold the 2016-built Morrisons in Murton, Durham, for £18.4m. The Morrisons in Workington, Cumbria, was acquired from Land Securities for £28.9m. All of the sites include petrol stations, large car parks and online fulfilment areas.
The Aldi in Oldham, Greater Manchester, was bought from O.P.P Investments for £5.6m. Both the Aldi and M&S Foodhall in West Derby, Liverpool, were sold by LondonMetric for £10.2m.
Ben Green, director of Supermarket Income REIT’s investment adviser, Atrato Capital, said: “These acquisitions provide geographic and tenant diversification, with the purchase of our first M&S Foodhall, as well as exposure to a number of high quality omnichannel supermarket assets. With an aggregate WAULT of 15 years, they support our strategy to deliver attractive, long-term income.”
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
