- Retail property investor Supermarket Income REIT said it had acquired a Morrisons supermarket in Telford from Santander Trustees for £14.3m.

The acquisition sum reflected a net initial yield of 5.0%.

The four-acre site, developed in 2021, was located at a prominent roadside junction in the centre of Lawley Village, a new 3,550-home development.

It was being acquired with an unexpired lease term of 17 years with a break option in year 12.

Supermarket Income REIT also announced that it had increased its debt facilities with Bayerische Landesbank by £34.8m.

The facilities now comprised a new £27.5m, secured, five-year tranche and a further £7.3m tranche, upsizing an existing £52.1m secured term loan for the remaining three-year term.

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