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Supermarket Income REIT buys £53m Tesco

Supermarket Income REIT, the UK supermarket real estate specialist, has bought a Tesco Extra supermarket in Scunthorpe from Legal & General Pensions Limited for £53m (net of acquisition costs), reflecting a net initial yield of 5.1%.
By James Wallace
May 31, 2018 | 12:44 P.M.

The Tesco Extra supermarket is being acquired with an unexpired lease term of 22 years with annual, upward-only, RPI-linked rent reviews (subject to cap and floor) on fully repairing and insuring terms. The purchase has been funded from the proceeds of the £65m equity placing on 25 May 2018.

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