Supermarket Income REIT expands portfolio with six new assets
(Alliance News) - Supermarket Income REIT PLC on Friday said it has acquired a portfolio of six new assets across England and Scotland for GBP104 million.
The deal involves a distribution centre in Avonmouth and an M&S-anchored retail park in Nottinghamshire, as well as four supermarkets: a Sainsbury's in Macclesfield, a Morrisons in Leeds, an M&S in Glasgow and a Co-op in Birmingham.
Supermarket Income REIT said the acquisitions complete the transaction announced in July to purchase three supermarkets for GBP118 million.
As a result of both sets of investments, the company said it has now fully deployed proceeds from the GBP100 million equity raise launched in July for acquisition purposes.
Shares in the real estate investment trust fell 1.0% to 81.35 pence on Friday morning in London and traded flat at ZAR17.92 in Johannesburg.
Chief Executive Rob Abraham said: "These acquisitions represent further progress in our strategy to diversify the portfolio, adding grocery distribution and additional exposure to grocery-anchored retail, to our core UK food stores, which span larger, omni-channel supermarkets through to convenience."
By Camilla Borri, Alliance News reporter
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