Supermarket Income REIT PLC - invests in grocery property in the UK - Acquires Tesco PLC supermarket in Colchester, Essex from Standard Life Investments Long Lease Fund for GBP63.0 million. Says this represents a net initial yield of 4.5% and is located on a 10-acre site in the suburb of Hythe.
"This Tesco store is a great addition to our growing portfolio of omnichannel stores with an attractive, long, index-linked lease in excess of 19 years. The property has strong underlying fundamentals and forms a key part of the Tesco online fulfilment network," says Ben Green, director of Atrato Capital Ltd, investment adviser to Supermarket Income REIT.
Current stock price: 112.76 pence
Year-to-date change: up 5.9%
By Zoe Wickens; zoewickens@alliancenews.com
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Tesco (TSCO)
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