Property investor SUPR buys Big 4 sites for £73m

An investment trust has topped up its “growing portfolio” of grocery sites by spending millions on two Big 4 stores.

Supermarket Income Reit (SUPR) bought a Tesco in Swansea and the Maidstone Sainsbury’s for £73 million.

The sites, said to have “long histories of strong trading performances”, have a combined sales area of 104,000 square foot.

“These two stores are excellent additions to SUPR’s growing portfolio of grocery assets,” Atrato Capital director Ben Green claimed.

READ MORE: Ocado Retail becomes ‘first supermarket’ with net zero HQ

“Both assets have attractive underlying fundamentals and long histories of strong trading performances, providing a… lease term of 21 years.”

The supermarket sweep was apparently funded with “the proceeds of the recently oversubscribed equity issue”.

SURP bought six stores, totalling almost a quarter of a million square foot, in September for £113 million.

Its biggest purchase was a Tesco in Prescot, Merseyside for £50 million, though it also bought two Morrisons, two Aldis, and a Marks & Spencer foodhall.

The trust’s share price is currently hovering around 118p, up 12.6 per cent since this time last year.

Click here to sign up to Grocery Gazette’s free daily email newsletter



Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.



Sign up to our daily newsletter to get all the latest grocery news and insights direct to your inbox.

  • This field is for validation purposes and should be left unchanged.