Supermarket Income REIT has invested £34m (€41m) to buy a Sainsbury’s superstore in northern England.
The UK supermarket real estate investor said it acquired the 50,000sqft store located on a 13-acre site in Hessle from Reassure.
The asset was originally developed in the early 1980s and supermarket chain Sainsbury’s has a long history of trading from the site. The asset is being acquired with an unexpired lease term of 14 years.
The company said the acquired asset includes an adjoining 21,000sqft Homebase store with an unexpired lease term of four years.
Ben Green, director of Atrato Capital, the investment advisor to Supermarket Income REIT, said: “This Sainsbury’s superstore is ideally located for both online and offline grocery sales and adds to Supermarket Income REIT’s growing portfolio of omnichannel stores.”