Property investor purchases 6 sites in £113m supermarket shopping spree

·1-min read
London-listed Supermarket Income Reit has bought more supermarket sites  (Facundo Arrizabalaga/EPA)
London-listed Supermarket Income Reit has bought more supermarket sites (Facundo Arrizabalaga/EPA)

Property investor Supermarket Income Reit has purchased six sites, used by some of the UK’s biggest grocers, for a combined price of £113 million.

The company, which leases properties to businesses in the supermarket sector, said the sites, which comprise stores, car parks and in some cases petrol stations, have been acquired from different vendors.

They include: a Tesco in Prescot, two Morrisons in Durham and Cumbria, an Aldi in Oldham, and an Aldi and M&S Foodhall in Liverpool.

Supermarket chains saw sales leap during the pandemic, and a number of investors think properties used by firms in the industry will generate steady and long term rental income.

Ben Green, director of Atrato Capital, the investment adviser to Supermarket Income Reit, said: “These acquisitions provide geographic and tenant diversification.”

Other purchases Supermarket Income Reit has agreed in 2021 include a Tesco supermarket site in Colchester, Essex, in a £63 million deal.

Earlier this month the firm inked a deal with Sainsbury’s and pointed to “evidence of the strength of demand for grocery property in the UK”.

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