Supermarket Income REIT has paid £66.8m for a Tesco supermarket in Llanelli, South Wales.
The deal for the 82,000 sq ft store, 16-pump filling station and 753-space car park reflects a net initial yield of 5.3%.
The 10-acre click-and-collect hub, which was developed for Tesco in 1989, was sold by M&G with an unexpired lease term of 12 years, with annual upwards-only RPI-linked rent reviews.
Ben Green, director of the REIT’s investment adviser, Atrato Capital, said: ”This acquisition further strengthens SUPR’s portfolio of top trading omnichannel supermarkets. The store has strong trading fundamentals, comes at an accretive acquisition yield and is subject to annual index-linked rent reviews.”
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