Supermarket Income REIT plc has acquired three grocery outlets at Chineham Shopping Centre, Basingstoke in a deal worth in excess of £80million.
The investment trust which specialises in grocery businesses, announced to the London Stock Exchange this week that, as part of a £82.9million addition to their portfolio, they now have ownership of 18.7 acre of retail space. The property was purchased from Tellon Capital.
Tellon Capital acquired the Chineham Shopping Centre, retail park in February 2018 for a sum in the region of £60million.
In addition to a large petrol station of 16 pumps, Chineham Shopping Centre, includes a car park totalling 878 spaces, the deal includes the M&S foodhall, an Iceland and a Tesco supermarket.
An Asda supermarket in Carcroft, Doncaster is also included as part of the almost £83million deal.
The Tesco store is an online click and collect Tesco hub. It has a remaining lease term of 12 years and is subject to five yearly open market rent reviews.
It is expected that the UK grocery market is set to grow by 11.3% in the next 12 months while inflation will see food prices rise by a forecasted 8.9% according to retail analysis experts IGD.