Supermarket Income REIT has acquired a Sainsbury’s supermarket in Newcastle upon Tyne from the National Farmers Union for £53.1m.
The purchase reflects a net initial yield of 4.1% and has been acquired with an unexpired lease term of 21 years.
The 68,000 sq ft supermarket also includes more than 420 parking spaces, a petrol station and three commercial units leased to Peugeot Motor Company for six years.
Supermarket Income REIT investment advisor Atrato Capital director Ben Green said: “The property has strong underlying fundamentals with an attractive inflation-linked lease in excess of 20 years and provides asset management opportunities.”
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