Deutsche Asset & Wealth Management (DeAWM) has acquired two Sainsbury’s supermarkets in the UK in an off-market transaction totalling £109.4 mln (€137.4 mln).
Deutsche Asset & Wealth Management (DeAWM) has acquired two Sainsbury’s supermarkets in the UK in an off-market transaction totalling £109.4 mln (€137.4 mln).
The supermarkets were purchased from a joint venture between Sainsbury’s and UK REIT British Land on behalf of one of its clients.
Located in the UK regional cities of Nottingham and Rugby (Midlands region), both assets were built in 1989 and comprise around 18,000 m2 in total with extensive car park facilities. The properties are let to Sainsbury’s until 2026.
James Petit, head of real estate for the UK and Ireland at DeAWM, said: ‘This acquisition provides exposure to the sector at an attractive yield and furthermore sites with strong strategic fundamentals that should underpin the long-term performance.’
