 | |
| Company type | Public limited company |
|---|---|
| LSE: SUPR | |
| Industry | Property |
| Founded | 2017 |
| Headquarters | London, United Kingdom |
Key people |
|
| Revenue |  £95.2 million (2023) [1] |
 £(133.1) million (2023) [1] | |
| £(144.9) million (2023) [1] | |
| Website | www |
Supermarket Income REIT is a property company which invests in retail property and holds a large portfolio of supermarkets. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. [2]
The company was launched on the London Stock Exchange in July 2017 and used the proceeds to purchase as series of supermarkets with the main supermarket chains as its tenants. [3] The company, together with its joint venture partner, British Airways Pension Trustees, acquired British Land's 25.5% stake in a portfolio of supermarkets in May 2020. [4] It went on to buy a large supermarket in Newmarket in July 2020, [5] a large supermarket in Bracknell in September 2020 [6] two supermarkets, one in Melksham and one in Winchester in January 2021, [7] five supermarkets in the northwest of England in September 2021, [8] [9] a supermarket in Cannock in December 2021 [10] and a supermarket in Cwmbran in January 2022. [11]
Sainsbury's exercised its option to acquire thirteen stores, which it occupied, from the company and its joint venture partner, British Airways Pension Trustees, in September 2021 [12] and then bought a further eight stores, which it occupied, from the company and its joint venture partner in January 2022. [13] The company raised an additional £175 million to buy supermarkets in April 2022. [14] [15]
By April 2022, the company had raised funds nine times for the purposes of building its portfolio of supermarkets; by that time the company owned 41 supermarkets directly and partially owned another 26 supermarkets through its joint venture with British Airways Pension Trustees. [16] [17]
The company specialises in supermarkets. Its portfolio was valued at £1.8 billion as at 30 June 2022. [1] The company is advised in all aspects of its work by Atrato Capital. [18] The company is one of a small number of UK Real Estate Investment Trusts which have been launched in the UK and the only one specialising in supermarkets. [19] The UK market is much less developed than that in the US; analysts at S&P Global Ratings have suggested that the UK REIT market "needs to grow a lot bigger" and involve "greater specialization". [20]
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