Supermarket Income REIT Announces £50 Million Raise for Acquisitions
The company plans to raise approximately £50 million through placings and a UK retail offer to fund six transactions involving 12 assets for £65.2 million. The acquisitions are expected to complete by December 2026.
Supermarket Income REIT plc has announced its intention to raise approximately £50 million in gross proceeds through an accelerated institutional placing, a South African placing, and a UK retail offer. The capital will be used to fund six earnings-enhancing transactions comprising twelve assets, including seven Sainsbury's convenience stores and a distribution centre, for a total consideration of £65.2 million. These acquisitions are expected to be completed by December 2026 and feature a net initial yield of 7.3% with a weighted average unexpired lease term (WAULT) of 12 years.
Management stated that the raise reflects strong business momentum and confidence in the pipeline of high-quality grocery assets.