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Supermarket Income Reit acquires six new sites for £113.1m

Acquired from different vendors, the purchases consist of a Tesco in Prescot, two Morrisons in Durham and Cumbria, an Aldi in Oldham and an Aldi and M&S Foodhall site in Liverpool

Supermarket Income Reit, the real estate investment group, has announced the acquisition of six supermarkets for a total purchase price of £113.1m.

Acquired from different vendors, the purchases consist of a Tesco in Prescot, two Morrisons in Durham and Cumbria, an Aldi in Oldham and an Aldi and M&S Foodhall site in Liverpool.

Tesco in Prescot, Merseyside is being acquired from an undisclosed vendor for £50m. The 7.5 acre site comprises an 89,000 sq ft net sales area supermarket, a 12-pump petrol filling station and 496 car parking spaces.

The store has a purpose-built online fulfilment centre which operates 12 vans, supporting Tesco’s online grocery network across the region.

The Morrisons in Murton, Durham was acquired from Janus Henderson UK Property PAIF for £18.4m. The 7.5 acre site comprises a 50,000 sq ft net sales area supermarket, a 16-pump petrol filling station and 475 car parking spaces.

The Morrisons in Workington, Cumbria was acquired from Land Securities Group for £28.9m. The 13.7 acre site comprises a 35,000 sq ft net sales area supermarket, an eight-pump petrol filling station and 605 car parking spaces.

Meanwhile, the Aldi in Oldham, Greater Manchester was acquired from O.P.P Investments Ltd for £5.6m. The 1 acre site comprises a 13,000 sq ft net sales area supermarket, which was developed in 2011 and 108 car parking spaces.

Finally, the Aldi and M&S Foodhall in West Derby, Liverpool was acquired from LondonMetric Property for £10.2m. Developed in 2016, the 1.7 acre site comprises a combined 23,000 sq ft net sales area with 120 car parking spaces.

Ben Green, director of Atrato Capital Limited, the investment adviser to Supermarket Income Reit, said: “These acquisitions provide geographic and tenant diversification, with the purchase of our first M&S Foodhall, as well as exposure to a number of high quality omnichannel supermarket assets.

“With an aggregate WAULT of 15 years, they support our strategy to deliver attractive long term income.”

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