Investment trust checks out with £14.3m supermarket deal

Supermarket Income REIT has bought a Morrisons supermarket in Telford from Santander Trustees £14.3m.

Developed in 2012, the four-acre site is located on a roadside junction in the centre of Lawley Village, a new 3,550-home development. The site comprises a 42,434 sq ft gross internal area supermarket with 220 parking spaces and an online click-and-collect facility.

It is being acquired with an unexpired lease term of 17 years with a break option in year 12.

Ben Green, director of Atrato Capital, the investment adviser to Supermarket Income REIT, said: “This transaction represents an opportunity to acquire a modern Morrisons supermarket that is ideally located to benefit from the growing catchment at the centre of a significant 3,550-home development. We are also pleased to extend our relationship with BLB, a key funding partner for us as we grow.”