Investment firm acquires six supermarkets from Merseyside to County Durham for £113m

A real estate investment fund has announced the acquisition of six supermarkets from Liverpool to Durham for a total of £113.1m.

Supermarket Income REIT plc, has purchased a Tesco in Prescot, two Morrisons in Durham and Cumbria, an Aldi in Oldham and an Aldi and M&S Foodhall site in Liverpool.

The Tesco in Prescot, Merseyside is being acquired from an undisclosed vendor for £50m. The 7.5 acre site comprises an 89k sq ft net sales area supermarket, a 12-pump petrol filling station and 496 car parking spaces. It is being acquired with an unexpired lease term of 15 years.

The Morrisons in Murton, Durham was acquired from Janus Henderson UK Property PAIF for £18.4m. The 7.5 acre site comprises a 50k sq ft net sales area supermarket, a 16-pump petrol filling station and 475 car parking spaces. It is being acquired with an unexpired lease term of 20 years.

The Morrisons in Workington, Cumbria was acquired from Land Securities Group plc for £28.9m. The 13.7 acre site comprises a 35k sq ft net sales area supermarket, an 8-pump petrol filling station and 605 car parking spaces. The Workington Morrisons supermarket has an unexpired lease term of 17 years.

The Aldi in Oldham, Greater Manchester was acquired from O.P.P Investments Ltd for £5.6m. The 1.0 acre site comprises a 13k sq ft net sales area supermarket with 108 car parking spaces. The store is being acquired with an unexpired lease term of 10 years.

The Aldi and M&S Foodhall in West Derby, Liverpool was acquired from London Metric Property plc for £10m. The 1.7 acre site comprises a combined 23k sq ft net sales area with 120 car parking spaces. The Aldi supermarket has an unexpired lease term of 15 years.

The M&S Foodhall has an unexpired lease term of 10 years, with 5-yearly, open market rent reviews.

Ben Green, director of Atrato Capital Limited, the Investment Adviser to Supermarket Income REIT plc, said: “These acquisitions provide geographic and tenant diversification, with the purchase of our first M&S Foodhall, as well as exposure to a number of high quality omnichannel supermarket assets.”

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