LONDON, UK: Supermarket Income REIT bought a Sainsbury’s supermarket in Cannock, Staffordshire, from a client of CBRE Investment Management for £75.8 million (excluding acquisition costs), representing a net initial yield of 4.0%. The Sainsbury’s store opened in 1997 and was extensively refurbished in 2011. This 9.1 acre site comprises a 73,000 sq ft net sales…
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Supermarket Income REIT, British Airways Pension Trustees Limited form JV to acquire Sainsbury’s supermarkets
LONDON: UK supermarket real estate investor, Supermarket Income REIT has announced the formation of a 50:50 joint venture (JV) with British Airways Pension Trustees Limited (BAPTL) to acquire from British Land Plc a 25.5% stake in one of the UK’s largest portfolios of supermarket properties for £102 million. Supermarket Income REIT’s contribution to the JV…