Supermarket Income REIT has snapped up another two supermarkets for £55m.
The 11.7-acre Sainsbury’s in Washington, Tyne and Wear, and the 4.4-acre Asda in Cwmbran, South Wales, takes the REIT’s portfolio to 41 directly owned supermarkets and 26 held in its jv with British Airways Pension Trustees.
Atrato Capital director Ben Green, Supermarket Income REIT’s investment adviser, said: “These acquisitions are strong additions to Supermarket Income REIT’s growing portfolio of omnichannel stores and in combination are accretive to both the weighted average unexpired lease term and net initial yield of the company’s portfolio. In addition, the Asda acquisition provides further tenant diversification for the portfolio.”
