UK-based real estate investment trust company Supermarket Income REIT has acquired a portfolio of supermarkets for a total purchase price of 74.1 million pounds ($93 million).
The portfolio, comprising six freehold supermarkets, is let to Waitrose on new 20-year leases with a tenant-only break option in year 15.
Through a sale and leaseback transaction with Waitrose & Partners, Supermarket Income REIT acquired the properties, which have an average gross internal area of 32,000 square feet.
Additionally, Waitrose will continue to trade from the stores as normal with no change from a customer or Waitrose Partner perspective.