Supermarket Income REIT buys further stake in Sainsbury’s portfolio

Supermarket Income REIT has acquired a further stake in a 26-strong Sainsbury’s portfolio.

The group, in a joint venture partnership with BA Pension fund, bought a 25.5% stake in the Sainsbury’s portfolio last year from British Land, and has today acquired a further 25.5% stake from Aviva Investors for £115m.

Following this second acquisition, the JV’s ownership in the portfolio is 51.0%. The remaining 49.0% beneficial interest is held by Sainsbury’s.

The portfolio comprises predominantly omnichannel supermarkets (mainly in London and the South East) and Supermarket Income REIT said there was scope for progressive valuation growth in excess of its targeted annualised total shareholder return.

Nick Hewson, chairman of Supermarket Income REIT, said: “This acquisition increases the size of our investment in this high-quality Sainsbury’s property portfolio through our joint venture with British Airways Pension Trustees Limited. We will work closely with our tenant and co-owner, Sainsbury’s, to deliver a long term occupational solution for them.”

SUPR : Supermarket Income REIT buys further stake in Sainsbury’s portfolio

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