Wrap Text
SUPR completes £41m of accretive acquisitions
SUPERMARKET INCOME REIT PLC
(Incorporated in the United Kingdom)
Company Number: 10799126
LSE Share Code: SUPR
JSE Share Code: SRI
ISIN Code: GB00BF345X11
("SUPR" or the "Company")
10 November 2025
SUPR COMPLETES £41M OF ACCRETIVE ACQUISITIONS
Supermarket Income REIT plc (LSE: SUPR) announces that it is has completed £40.9 million of
acquisitions that are accretive to earnings and WAULT across two transactions at an average net initial
yield of 6.4%(Note 1).
Following these transactions the Company has now redeployed £99.8 million of the proceeds of the
Company's strategic joint venture with funds managed by Blue Owl Capital ("Blue Owl"), which was
announced in April 2025, at a net initial yield of 6.7%.
Tesco, Craigavon acquisition
The acquisition of this upper quartile performing food store in Craigavon, Northern Ireland, at a
purchase price of £25.6 million (excluding acquisition costs) reflects an attractive net initial yield of
6.5% (Note 2). The 8.6-acre site comprises a 130,000 sq ft gross internal area omnichannel supermarket and
a petrol filling station and is the primary omnichannel Tesco store within a 25-minute drivetime of the
site. It serves as an online fulfilment hub with 12 home delivery vans, as well as offering Click & Collect
services. The unexpired term of the triple-net lease is 15 years with five-yearly, CPI-linked rent reviews
(annually compounded, subject to a 4% cap and 0% floor), with a highly affordable rent of £12.70 per
sq. ft.
Acquisition of a portfolio of 10 Sainsbury's convenience stores marks entry into convenience-
grocery
The Company has also completed the acquisition of 10 Sainsbury's convenience stores at a purchase
price of £15.3 million (excluding acquisition costs), reflecting a net initial yield of 6.1% (Note 3). The stores are
being acquired from Sainsbury's with attractive 15-year triple-net leases that benefit from five-yearly,
CPI-linked rent reviews (annually compounded, subject to a 3% cap and 1% floor).
The acquisition of these strong trading stores represents SUPR's first investment in convenience
grocery. These strongly performing stores have an average gross internal area of 5,800 sq ft and are
situated in densely populated town-centre locations across the UK, with strong footfall and visibility.
Locations of the Sainsbury's assets:
- Boston Manor
- Bristol
- Doncaster
- Edinburgh
- Melbourne
- Nottingham
- Royal Leamington Spa
- Sheffield
- Solihull
- South Benfleet
The Company increasingly sees opportunity within the small format grocery space, where strong
trading stores can be acquired at attractive prices and retain the key triple-net, inflation-linked
fundamentals of the adjacent large format grocery sector.
Following these acquisitions, the Company's pro-forma LTV is 36%, with the portfolio WAULT at 11
years.
Rob Abraham, CEO of Supermarket Income REIT, commented:
"We continue to make good progress with redeploying the proceeds from our joint venture into
income accretive opportunities. We have a strong pipeline of large format omnichannel supermarkets,
whilst we also see attractive relative value in smaller format convenience stores as demonstrated by
our acquisition from Sainsbury's. Our relationship-led model and sector specialism continues to set us
apart in the market, enabling us to unlock these unique opportunities and strategically scale the
business."
Notes:
1 NIY assuming respective standard purchaser's costs
2 NIY assuming standard purchaser's costs of 6.8%
3 NIY assuming standard purchaser's costs of 7.8%
FOR FURTHER INFORMATION
Supermarket Income REIT
Rob Abraham / Mike Perkins / Chris McMahon ir@suprplc.com
Stifel Nicolaus Europe Limited +44 (0)20 7710 7600
Mark Young / Rajpal Padam / Catriona Neville
Goldman Sachs International +44 (0)20 7774 1000
Tom Hartley / Luca Vincenzini
Headland Consultancy +44 (0)20 3805 4885
Susanna Voyle / Antonia Pollock / Dan Mahoney SUPR@headlandconsultancy.com
NOTES TO EDITORS:
Supermarket Income REIT plc (LSE: SUPR, JSE: SRI), a FTSE 250 company, is the only LSE listed
company dedicated to investing in grocery properties which are an essential part of national food
infrastructure. The Company focuses on grocery stores which are predominantly omnichannel,
fulfilling online and in-person sales and are let to leading supermarket operators in the UK and
Europe. The portfolio was valued at £1.6 billion as at 30 June 2025.
The Company's properties earn long-dated, secure, inflation-linked, growing rental income. SUPR
targets a progressive dividend and the potential for long term capital growth.
The Company's shares are traded on the LSE's Main Market and on the Main Board of the JSE
Limited in South Africa.
Further information is available on the Company's website www.supermarketincomereit.com
LEI: 2138007FOINJKAM7L537
Stifel Nicolaus Europe Limited, which is authorised and regulated in the United Kingdom by the
Financial Conduct Authority, is acting exclusively for Supermarket Income REIT plc and no one else in
connection with this announcement and will not be responsible to anyone other than the Company
for providing the protections afforded to clients of Stifel Nicolaus Europe Limited nor for providing
advice in connection with the matters referred to in this announcement.
Goldman Sachs International, which is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United
Kingdom, is acting exclusively for Supermarket Income REIT plc and no one else in connection with
this announcement and will not be responsible to anyone other than the Company for providing the
protections afforded to clients of Goldman Sachs International nor for providing advice in connection
with the matters referred to in this announcement.
The Company has a primary listing on the London Stock Exchange and a secondary listing on the JSE
Limited.
Sponsor
PSG Capital
Date: 10-11-2025 09:00:00
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