Supermarket Income REIT acquires £38.3m Tesco

Supermarket Income REIT (real estate investment trust) has acquired a Tesco supermarket in Worcester for £38.3m.

The retailer has been operating at the 6.5 acre site, which comprises a 47,297 sq ft supermarket, a petrol station, and a 515-space car park, for over 30 years.

The site is also an online hub for the grocer and operates nine home delivery vans and a click-and-collect facility.

The store has been acquired from British Steel Pension Fund, with an unexpired lease term of 12 years.

Funding for the acquisition came from the first tranche of sales proceeds following the REIT’s disposal of its stake in the Sainsbury’s Reversion Portfolio.