Supermarket Income REIT expands portfolio with six new assets

Supermarket Income REIT PLC on Friday said it has acquired a portfolio of six new assets across England and Scotland for £104 million.

The deal involves a distribution centre in Avonmouth and an M&S-anchored retail park in Nottinghamshire, as well as four supermarkets: a Sainsbury's in Macclesfield, a Morrisons in Leeds, an M&S in Glasgow and a Co-op in Birmingham.

Supermarket Income REIT said the acquisitions complete the transaction announced in July to purchase three supermarkets for £118 million.

As a result of both sets of investments, the company said it has now fully deployed proceeds from the £100 million equity raise launched in July for acquisition purposes.

Shares in the real estate investment trust fell 1.0% to 81.35 pence on Friday morning in London and traded flat at ZAR17.92 in Johannesburg.

Chief Executive Rob Abraham said: "These acquisitions represent further progress in our strategy to diversify the portfolio, adding grocery distribution and additional exposure to grocery-anchored retail, to our core UK food stores, which span larger, omni-channel supermarkets through to convenience."

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