Supermarket investor acquires Lancaster store
UK supermarket real estate investor, Supermarket Income REIT (LSE: SUPR) has announced the acquisition of the Sainsbury’s supermarket in Preston, Lancashire from Legal & General for £54.4 million (excluding acquisition costs), reflecting a net initial yield of 5.1 per cent.
The supermarket comprises 78,000 sq ft net sales area with a 12-pump petrol filling station, 520 parking spaces and purpose built online fulfilment distribution docks supporting Sainsbury’s online grocery business across the region.
Ben Green, director of Atrato Capital, the investment advisor to supermarket income REIT, said:”This Sainsbury’s supermarket is a great addition to our growing portfolio of omnichannel stores. The property has very attractive lease terms, strong fundamentals and provides further diversification to the portfolio.”
