Listed UK grocery property investment trust Supermarket Income REIT has raised £200m (€232m) by issuing new shares at 115p each.

The company said it decided to increase the size of its initial issue from £100m to £200m due to a strong level of support from investors and available investment opportunities.

Nick Hewson, chairman of Supermarket Income REIT, said: “Demand for this issue has been exceptionally strong, resulting in us doubling the size of the capital raise. We are very grateful to our existing and new investors for their continued support.”

Hewson said the company has £180m of target assets already under exclusivity and a pipeline of £420m in potential further acquisitions.

“We are confident that we will be able to deploy proceeds efficiently into a number of attractive omnichannel supermarkets let to some of the UK’s largest supermarket operators to deliver our investors with a stable and growing, inflation-linked income return.”

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