18 acre Basingstoke retail park bought by Supermarket Income REIT

Published by

Stephen Emerson

Supermarket Income REIT plc has acquired three grocery outlets at Chineham Shopping Centre, Basingstoke in a deal worth in excess of £80million.

The investment trust which specialises in grocery businesses, announced to the London Stock Exchange this week that, as part of a £82.9million addition to their portfolio, they now have ownership of 18.7 acre of retail space. The property was purchased from Tellon Capital.

Tellon Capital acquired the Chineham Shopping Centre, retail park in February 2018 for a sum in the region of £60million.

In addition to a large petrol station of 16 pumps, Chineham Shopping Centre, includes a car park totalling 878 spaces, the deal includes the M&S foodhall, an Iceland and a Tesco supermarket.

An Asda supermarket in Carcroft, Doncaster is also included as part of the almost £83million deal.

The Tesco store is an online click and collect Tesco hub. It has a remaining lease term of 12 years and is subject to five yearly open market rent reviews.

It is expected that the UK grocery market is set to grow by 11.3% in the next 12 months while inflation will see food prices rise by a forecasted 8.9% according to retail analysis experts IGD.

Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset. Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users. He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.