LONDON: Supermarket Income REIT announced the acquisition of a Waitrose supermarket in Market Harborough, Leicestershire from Alpha Real Estate for £9.1 million, representing a net initial yield of 4.3%.
Developed in 2013, this prominent 2-acre site is located in the town centre and comprises a 18,000 sq ft net sales area supermarket with over 180 car parking spaces.
The store forms a key part of the Waitrose online grocery fulfilment capacity in the region, providing both home delivery and click and collect to its local catchment. It is being acquired with an unexpired lease term of 19 years (with a break option at year 14), with 5-yearly rent reviews subject to 2% fixed, annually compounded uplifts.
Ben Green, Director of Atrato Capital, the Investment Adviser to Supermarket Income REIT, said: “We are pleased to have added a further Waitrose store to our growing portfolio. This store has strong omnichannel trading fundamentals and is situated in a prominent location within a highly affluent town.”
Supermarket Income REIT plc (LSE: SUPR) is a real estate investment trust dedicated to investing in grocery properties which are an essential part of the UK’s feed the nation infrastructure.
The Company focuses on grocery stores which are omnichannel, fulfilling online and in-person sales. All of the Company’s 49 supermarkets are let to leading UK supermarket operators, diversified by both tenant and geography.