The London Stock Exchange-listed real estate investment trust, Supermarket Income REIT, has announced the acquisition of a Tesco Extra, and an Aldi supermarket in Beaumont Leys, Leicester from British Land PLC.
The 97,000 sq ft Tesco store was originally developed in the 1980s and subsequently extended and refurbished in 2007. The site has parking provision for over 700 vehicles and a 12-pump petrol filling station and is a key part of the areas online delivery service. 262,000 population catchment area.
Meanwhile, the Aldi supermarket is set to open later this year and extends to 14,800 sq ft. The property has been acquired with an unexpired lease term of 25 years (with break options at years 15 and 20).
Ben Green Director of Atrato Capital, the Investment Adviser to Supermarket Income REIT, said: “We are pleased to have acquired a further omnichannel Tesco Extra, with this asset operating as a key online grocery fulfilment hub for Tesco. The Aldi acquisition provides further tenant diversification for the portfolio. Furthermore, we believe this site offers valuable asset management opportunities.”