American investor snaps up Doncaster Morrisons

American real estate investment trust WP Carey has acquired a Morrisons supermarket and attached petrol station in Doncaster for £23m.

The supermarket and petrol station are triple-net leased for 14 and 13 years respectively, with inflation-linked rent increases.

WP Carey has invested a total of approximately £1.03bn into the UK market since entering in 1999.

Karolis Adlis, executive director of European investments at WP Carey, said: “We’re delighted to kick off the new year by adding another high-quality facility to our portfolio, and one that is leased to one of the UK’s largest supermarket brands.

“The UK grocery retail space has demonstrated strong resilience, continuing to grow amidst the wider challenges presented within the current economic environment. We look forward to working with Morrisons, supporting the business’ evolving needs over the coming years.”

Last week, two Morrisons supermarkets were acquired by Israel-based capital fund MDSR Investments along with one Sainsbury’s store for £100m.