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Supermarket Income REIT PLC - real estate investment trust investing in supermarket property - Acquires a Wm Morrison Supermarkets PLC supermarket in Wisbech, Cambridgeshire from London-based investor Aberdeen Standard Investments for GBP30 million. Notes Morrisons store is being acquired with a new 26-year lease. Says nine acre site includes parking provision for more than 500 vehicles and adjoining units let to B&Q Ltd and B&M European Value Retail SA, with a weighted unexpired lease term of eight years. Adds the total price represents a combined net initial yield of 5.0%.
"This modern store is a great addition to our growing portfolio of omnichannel stores. The property has strong underlying fundamentals with an attractive lease term providing inflation linked income in excess of 20 years," says Ben Green, Director of Atrato Capital Ltd, investment adviser to Supermarket Income REIT.
Current stock price: 107.00 pence
Year-to-date change: up 0.5%
By Zoe Wickens; zoewickens@alliancenews.com
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