​Supermarket Income REIT expands portfolio with £54m acquisition

Supermarket Income REIT has acquired a £54.4m (€60m) asset in north-west England from Legal & General.

The UK supermarket real estate investor said the Sainsbury’s supermarket in Preston, Lancashire is being acquired with an unexpired lease term of 22.5 years.

The supermarket comprises 78,000sqft net sales area with a 12-pump petrol filling station, 520 parking spaces and purpose-built online fulfilment distribution docks.

The London-listed firm said it has also arranged a new five-year, interest-only, £47.6m term loan facility with Dekabank, secured against the Sainsbury’s supermarket in Preston and the Tesco supermarket in Mansfield.

The facility also includes a £40m uncommitted accordion option for the term of the facility, the company said.

Ben Green, director of Atrato Capital, the investment advisor to Supermarket Income REIT, said: “This Sainsbury’s supermarket is a great addition to our growing portfolio of omnichannel stores. The property has very attractive lease terms, strong fundamentals and provides further diversification to the portfolio.

“We are delighted to have secured Dekabank as a new lender to the group. Our new facility provides us with very competitively-priced, five-year funding with room to grow to support the company’s future investment requirements”.

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  • Sainsbury’s supermarket in Preston

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