Investment vehicle makes £63m supermarket sweep

Click to read the article in full.  

Supermarket Income REIT has bought a Tesco Extra and an Aldi supermarket in Beaumont Leys, Leicester from British Land in deal worth £63.4m.

The Tesco store was originally developed in the 1980s and subsequently extended and refurbished in 2007 to a 97,000 sq ft net sales area Tesco Extra. The site has parking for over 700 vehicles and a 12-pump petrol filling station. In addition to the supermarket, the Tesco demise also comprises purpose-built online fulfilment facilities which support Tesco’s online grocery deliveries across the 262,000 population catchment area. It is being acquired with an unexpired lease term of 7 years, with 5-yearly, upwards only, open market rent reviews. The next rent review is in February

 link source - The Business Desk

Continue reading this article at the original source Here