Supermarket Income REIT has acquired a Waitrose supermarket in Market Harborough, Leicestershire from Alpha Real Estate for €10.2m (£9.1m), representing a net initial yield of 4.3%. Developed in 2013, this prominent 2-acre site is located in the town centre and comprises an 18,000ft² 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.”
