Supermarket Income REIT plc, a FTSE 250 real estate investment trust focused on grocery properties, has acquired six UK grocery assets for £104 million ($141 million) as it expands its portfolio of essential food infrastructure.

The acquisitions, announced on September 11, 2026, bring the proceeds of the company’s £100 million ($135.1 million) equity raise in July fully into investment, alongside a previously announced £118 million ($159.46 million) portfolio acquisition. Together, the transactions were completed at an average net initial yield of 6.6% and a weighted average unexpired lease term of 10 years.

Supermarket Income REIT expands grocery property portfolio

The latest acquisitions follow Supermarket Income REIT’s July 15 announcement that it had exchanged contracts to acquire a separate portfolio of three supermarkets for £118 million ($159.45 million). Combined with the latest £104 million ($140.53 million) transaction, the acquisitions represent the full deployment of proceeds from the company’s £100 million ($135.13 million) equity raise completed in July.

The newly acquired portfolio includes supermarkets operated by leading UK retailers Sainsbury’s, Morrisons and Co-op, alongside M&S-anchored retail properties and a grocery distribution centre leased to Sainsbury’s. The largest assets include a 74,000-square-foot Sainsbury’s supermarket in Macclesfield and an 80,000-square-foot Morrisons supermarket in Leeds. Both properties have Click & Collect facilities and home-delivery operations and carry triple-net leases with 13 years remaining.

The Sainsbury’s property benefits from annual RPI-linked rent reviews, subject to a 4% cap and 2% floor, with annual rent of £37 ($50) per square foot. The Morrisons property has five-yearly RPI-linked reviews, subject to a 4% cap and 0% floor, with rent of £21 ($28.37) per square foot.

The portfolio also includes a fully let 50,000-square-foot M&S-anchored retail park in Nottinghamshire, occupied by national retailers including B&Q, Costa, Greggs and Mountain Warehouse. The retail park has a weighted average unexpired lease term of five years, with five-yearly open-market rent reviews and rent of £18 ($24.32) per square foot.

New acquisitions strengthen grocery exposure

Supermarket Income REIT has also acquired a 4,000-square-foot Co-op foodstore in Birmingham, which has eight years remaining on its triple-net lease and five-yearly RPI-linked rent reviews subject to a 4% cap and 1% floor.

A 10,000-square-foot M&S-anchored property in Glasgow has six years remaining on its triple-net lease, with five-yearly open-market rent reviews and rent of £20 ($27) per square foot.

The company is also acquiring a 67,000-square-foot Sainsbury’s grocery distribution centre in Avonmouth. The property has a 14-year triple-net lease and five-yearly open-market rent reviews, providing potential for rental growth as rents revert toward market levels.

Rob Abraham, CEO of Supermarket Income REIT, said the acquisitions represented the completion of the company’s investment programme following the equity raise and were delivered within two months. He said the transactions would further diversify the portfolio by adding grocery distribution and increasing exposure to grocery-anchored retail alongside the company’s core UK foodstore portfolio.

Equity raise fully deployed

Supermarket Income REIT, a FTSE 250 company listed on both the London Stock Exchange and the Johannesburg Stock Exchange, specializes in investing in omnichannel grocery stores that support both in-person and online retail.

Supermarket Income REIT is focused on grocery properties that form part of the UK’s essential food infrastructure, with an emphasis on predominantly omnichannel stores that serve both online and in-person customers.

The company’s properties are primarily leased to leading supermarket operators and generate long-dated, inflation-linked rental income. Its portfolio was valued at £2.1 billion ($2.84 billion) as of December 31, 2025. The company is targeting progressive dividends and long-term capital growth as it continues to expand its exposure to grocery real estate across the UK and Europe.