SUPERMARKET INCOME REIT PLC

(the "Company")  

LEI: 2138007FOINJKAM7L537  
  

Acquisition OF A TESCO SUPERMARKET IN BRISTOL

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-protected, long income from grocery property in the UK, announces the acquisition of a Tesco supermarket, an Iceland Food Warehouse and complementary non-grocery units in Bradley Stoke, Bristol, for a total purchase price of £84.0 million (excluding acquisition costs), reflecting a net initial yield of 5.6%.

The 19.8 acre site includes a 74,717 sq ft net sales area Tesco supermarket with a 16-pump petrol filling station and 925 car parking spaces. The store is an online hub for Tesco, operating 20 home delivery vans and a dedicated Click & Collect facility. Tesco has operated at the site since the 1980s and through an extensive refurbishment, expanded the store in 2007. The site also includes an Iceland Food Warehouse and further complementary units providing convenience and health services with tenants including Boots, Greggs, Costa Coffee and Pets at Home.

The site is being acquired from CBRE Investment Management. The Tesco store has an unexpired lease term of 14 years, with annual, upwards-only, RPI-linked rent reviews (with a 3.5% cap and a 0.0% floor).

Ben Green, Director of Atrato Capital Limited, the Investment Adviser to Supermarket Income REIT plc, said:  

"We are very pleased to be adding this top trading omnichannel Tesco store to the portfolio together with the complementary essential retailers at this site."

NOTES TO EDITORS:  

Supermarket Income REIT plc (LSE: SUPR) is a real estate investment trust dedicated to investing in grocery properties which are an essential part of the UK's feed the nation infrastructure. The Company focuses on grocery stores which are omnichannel, fulfilling online and in-person sales. All of the Company's supermarkets are let to leading UK supermarket operators, diversified by both tenant and geography.  

The Company provides investors with attractive, long-dated, secure, inflation-linked, growing income with the potential for capital appreciation over the longer term and targets a 7% to 10% p.a. total shareholder return⁽¹⁾. The Company has increased its dividend every year since IPO.  

The Company is listed on the premium segment of the Official List of the UK Financial Conduct Authority and its Ordinary Shares are traded on the Main Market of the London Stock Exchange, having listed initially on the Specialist Fund Segment of the Main Market on 21 July 2017.

Atrato Capital Limited is the Company's Investment Adviser.  

Further information is available on the Company's website www.supermarketincomereit.com  

^1. There is no certainty that these illustrative projections will be achieved.