StockMarketWire.com - Grocery property investor Supermarket Income REIT said it had acquired a Morrisons supermarket in Wisbech, Cambridgeshire from Aberdeen Standard Investments for £30.0 million.

The acquisition price represented a net initial yield of 5%, the company said.

The store was developed in the 1980's and was subsequently extended and refurbished by Morrisons in 2011 to comprise 37,000 square feet of net sales area

It was being acquired with a new 26-year lease subject to five yearly, upwards only, RPI-linked rent reviews subject to a 3.0% cap and a 1.5% floor.

'The store forms a key part of Morrisons' online grocery fulfilment network providing both home delivery and click and collect to its local catchment,' Supermarket Income REIT said.


At 9:22am: [LON:SUPR] Supermarket Income Reit Plc share price was 0p at 104.5p



Story provided by StockMarketWire.com