An investment trust has bought a Sainsbury’s for £76 million, bringing its total spending on supermarkets to over a quarter of a billion since September.
Supermarket Income Reit (SUPR) acquired the Cannock, Staffordshire store in its biggest single purchase of the year.
Atrato Capital director Ben Green, who advises the trust, called it an “excellent addition to our growing portfolio of high-quality omnichannel stores”.
“The property has strong trading fundamentals and forms a key part of Sainsbury’s online fulfilment network,” he claimed.
READ MORE: Property investor SUPR buys Big 4 sites for £73m
SUPR has gone on a supermarket sweep in the past three months, buying sites from Tesco, Sainsbury’s, Morrisons, Aldi and Marks & Spencer.
It spent £113 million on grocery properties in September, then £73 million a fortnight ago, taking its total investment to £262 million.
However, it could lose up to ten properties by the end of January, if Sainsbury’s chooses to buy sites it currently leases.
Shares opened at 122.50p today, up 14.5 per cent from this time last year.
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