Supermarket Income REIT acquires Huddersfield Sainsbury’s
Supermarket Income REIT has acquired a Sainsbury’s supermarket in Huddersfield, West Yorkshire for £49.7m.
The asset comprises a 113,348 sq ft omnichannel supermarket alongside a petrol filling station situated over an 8.5 acre site.
Sainsbury’s has occupied the site for over 30 years, which has been acquired with an unexpired lease term of 11 years with annual inflation-linked rent reviews.
The store is also an online fulfilment hub for the retailer, operating 12 home delivery vans as well as click-and-collect services.
The acquisition has been funded through the drawdown of Supermarket Income REIT’s existing debt facility. Following the acquisition, the company’s loan-to-value is 39% with a portfolio weighted average unexpired lease term of 12 years.
Ben Green, principal of Atrato Capital Limited, the investment adviser to Supermarket Income REIT, said: “We are also very pleased to announce this UK acquisition. We remain highly focused on driving returns and we continue to explore all avenues to deliver value for shareholders of Supermarket Income REIT.”