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Supermarket Income REIT PLC said on Wednesday it has agreed to acquire a portfolio of three supermarkets for £118 million. The portfolio includes a Sainsbury’s in Manchester, and two Tesco stores - one in Edinburgh and the other in Halifax. The London-based real estate investment trust said it would buy these three supermarkets at an average net initial yield of 6.9%, with the deal due to complete in September. ‘This acquisition will add three high quality stores to our portfolio and further demonstrates the compelling growth opportunities we continue to see in grocery real estate,’ Supermarket Chief Executive Officer Rob Abraham said. The announcement comes after Supermarket said this morning it planned to raise about £100 million through an equity issue to fund several acquisitions. The equity issue would help Supermarket acquire nine grocery assets for £216 million, including the deal comprising three supermarkets announced on Wednesday. In addition, the company said it has a further pipeline of six grocery assets in the UK let to major grocers, with completion expected in the next three months for £98 million. Supermarket said it expects the planned deals to be accretive to earnings per share from the first full financial year. The company’s shares were down 2.4% to 86.77 pence each on Wednesday afternoon in London, and traded 0.6% lower at R 19.08 in Johannesburg. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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