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Supermarket Income REIT acquires Sainsbury's store in Northern Ireland
StockMarketWire.com
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Property investor Supermarket Income REIT said it had acquired Sainsbury's supermarket in Bangor, County Down, Northern Ireland, from John Morgan Estates for £24.8 million.
The acquisition price reflected a net initial yield of 6.6%.
The 10-acre site was developed in 2011 and comprised 44,000 square foot net sales area supermarket with 650 parking spaces and an eight-pump petrol filling station.
The supermarket had been acquired with an unexpired lease term of 15 years with five-yearly rent reviews subject to 2% fixed annually compounded uplifts.
Story provided by StockMarketWire.com
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