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Supermarket Income REIT PLC - real estate investment trust dedicated to investing in supermarket property - Acquires a Sainsbury's supermarket in Bangor, Northern Ireland from John Morgan Estates Ltd for GBP24.8 million. Ten-acre site comprises a 44,000 square-foot supermarket with 650 parking spaces and an eight-pump petrol filling station. Supermarket has an unexpired lease term of 15 years with five-yearly rent reviews subject to 2% fixed annually compounded uplifts. Adds the acquisition includes an adjoining 33,000 square-feet Homebase unit with an unexpired lease term of 10 years with five-yearly, open market rent reviews.
"This income accretive acquisition is our first in Northern Ireland, adding further geographical diversification to our growing portfolio of UK supermarkets," says Ben Green, director of Supermarket Income REIT investment manager Atrato Capital.
Current stock price: 108.81 pence
Year-to-date change: up 2.2%
By Ife Taiwo; ifetaiwo@alliancenews.com
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