UK grocery real estate investment trust Supermarket Income REIT has added a £66.8m (€79m) asset from M&G.
The London-listed real estate investment trust said it has bought a Tesco supermarket in Llanelli, South Wales with an unexpired lease term of 12 years.
The store was developed for Tesco in 1989 and occupies a 10-acre site comprising an 82,046sqft net sales area supermarket, a 16-pump petrol filling station and 753 car parking spaces.
Ben Green, director of Atrato Capital, the investment adviser to Supermarket Income REIT, 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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