Supermarket Income REIT has increased its portfolio to three assets following the acquisition of a Sainsburys store for £80 mln (€87 mln).
The specialist real estate investment trust floated on the London stock exchange in July.
The company purchased the freehold of the Sainsburys Bybrook Superstore in Ashford, Kent, from the National Farmers Union Mutual Insurance Society. The transaction reflected a net initial yield of 4.5% after the next agreed RPI-linked rent review is in September 2017.
The property comprises 11,612 m2 on a 7-hectare site with more than 700 parking spaces. Sainsburys' lease runs for a further 21 years.
Supermarket Income REIT is financing the acquisition from the proceeds of its IPO and from a £100 mln revolving credit facility secured from HSBC at the end of August.
Earlier in August the REIT acquired two Tesco supermakets in separate transactions for a total of £72 mln.
