Supermarket Income appoints senior execs after management internalisation completes
Supermarket Income REIT has appointed two senior executive directors after completing the internalisation of its management function.
Rob Abraham and Mike Perkins have been appointed as chief executive officer and chief financial officer respectively, with both joining the board with immediate effect.
Supermarket Income REIT is a real estate investment trust focused on omnichannel grocery stores. The company’s supermarkets are let to leading supermarket operators in the UK and Europe.
The group previously said the internalisation process could deliver annual cost savings of at least £4m.
Nick Hewson, chair of Supermarket Income REIT, said: “I am pleased to welcome Rob and Mike to the board, following the completion of the internalisation of the company’s management function. This represents a significant milestone for the company, as we continue to make progress on our key strategic initiatives, which are designed to enhance earnings and continue to reduce the discount to NAV (net asset value).
“Rob and Mike have played an integral role in the business to date, and their deep understanding of [Supermarket Income REIT’s] strategy and operations will ensure a smooth transition and continued delivery of value for our shareholders.“
The appointments come shortly after Supermarket Income REIT reported an increase in its portfolio value to £1.8bn during the second half of 2024. The group also recorded an operating profit of £50.3m, a 12% increase compared to the first half of last year.