Supermarket Income REIT, the UK grocery property real estate investment trust, has bought a £75.8m (€88m) supermarket from a client of CBRE Investment Management.
Supermarket REIT said it has bought the 73,000sqft Sainsbury’s supermarket situated on a 9.1-acre site in Cannock, Staffordshire.
Ben Green, director of Atrato Capital, the investment adviser to Supermarket Income REIT, said: “This Sainsbury’s in Cannock is an excellent addition to our growing portfolio of high-quality omnichannel stores and was funded using proceeds from the recently oversubscribed equity issue.
“The property has strong trading fundamentals and forms a key part of Sainsbury’s online fulfilment network.”
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