Supermarket Income REIT has announced the acquisition of three shops at Chineham Shopping Centre in Basingstoke.

The investor has acquired a Tesco superstore along with an M&S Foodhall and an Iceland. At the same time it has acquired an Asda supermarket in Doncaster and arranged a £412.1 million credit deal.

The deals have a combined purchase price of £82.9m and, according to the company, will have a combined net initial yield of 4.9 per cent.

The site in Chineham spans 18.7 acres and sits alongside a large petrol station and 878 car parking spaces. The Tesco superstore has 12 years on its lease but is subject to five-yearly open-market rent reviews.

Ben Green director of Atrato Capital, investment adviser to Supermarket Income REIT, said: “These acquisitions further strengthen and complement SUPR’s portfolio.

“Chineham Park was a rare opportunity to acquire a Tesco, an M&S Foodhall and an Iceland in a single transaction. The Asda acquisition represents the longest duration asset in the portfolio with a very long 100-year lease.

“The new unsecured facility is a significant milestone for SUPR, the scale and quality of the portfolio now enabling the company to finance on an unsecured basis.

“We are delighted with the level of financing support received from our existing and new relationship banks, affirming the robust nature of the grocery sector.”

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