Supermarket Income REIT acquires £60m asset from L&G
Supermarket Income REIT has invested £60.4m (€68.6m) to acquire an asset in the south-west of England.
The UK supermarket real estate investor said it has bought the 62,000sqft Sainsbury’s supermarket in Cheltenham from Legal & General.
The supermarket has a 12-pump petrol filling station and more than 390 parking spaces.
The asset was originally developed in the 1980s, and the store was extensively refurbished and extended in 2007.
Ben Green, director of Atrato Capital, the investment advisor to Supermarket Income REIT, said: “With strong fundamentals, this Sainsbury’s supermarket is an excellent addition to our growing portfolio of omnichannel stores and provides further investment diversification.”