- Supermarket Income REIT said it had acquired a Tesco supermarket in Colchester, Essex from Standard Life Investments Long Lease Fund for £63.0 million.

The purchase price represented a net initial yield of 4.5%.

The 10 acre site, developed in 1993 and refurbished in 2011, was located in the suburb of Hythe.

It comprised a 54,300 square feet net sales area supermarket, a 16-pump petrol filling station and 570 parking spaces.

The asset was being acquired with an unexpired lease term of 19 years, with annual, upwards only, RPI-linked rent reviews -- subject to a 4.0% cap and a 0.0% floor.

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