Supermarket Income REIT plc announces the acquisition of a Tesco omnichannel supermarket in Stoke-on-Trent, Staffordshire, West Midlands, for a total purchase price of €40.6m (excluding acquisition costs), reflecting a net initial yield of 7.5%.
The acquisition comprises a 5,059m2 net sales area omnichannel supermarket and petrol filling station which sits on a 35,208m2 site. The store was built in 1994 and supports Tesco’s online fulfilment operation via both home delivery vans and customer Click & Collect. The store is being acquired with an unexpired lease term of 11 years and is subject to annual RPI-linked rent reviews (subject to a 4% cap and a 0% floor).
The acquisition has been funded through the drawdown of the Company’s existing revolving credit facility.
Image source - Copilot AI.
Europe Real Estate — an overview of real estate developments in European countries.
