(Sharecast News) - Real estate investor Supermarket Income REIT has acquired a Tesco supermarket in Llanelli, South Wales, for a total purchase price of £66.8m.
Supermarket Income REIT said on Wednesday that the store, which was developed for Tesco in 1989, occupies a 10-acre site with an 82,046 square foot net sales area supermarket, a 16-pump petrol filling station, and 753 car parking spaces.
The FTSE 250-listed group store was acquired from M&G with an unexpired lease term of 12 years, with annual, upwards only RPI-linked rent reviews.
Supermarket Income REIT added that the purchase price reflected a net initial yield of 5.3%.
"This acquisition further strengthens SUPR's portfolio of top trading omnichannel supermarkets. The store has strong trading fundamentals, comes at an accretive acquisition yield, and is subject to annual index-linked rent reviews," said Ben Green, a director at Supermarket Income REIT's investment advisor Atrato Capital.
Reporting by Iain Gilbert at Sharecast.com
Supermarket Income (SUPR)