Morrisons supermarket in Workington has been bought by a property investment group.
The store on Derwent Drive has been bought by Supermarket Income REIT, which according to its website “provides shareholders with an attractive level of income together with the potential for capital growth by investing in supermarket real estate assets.”
Supermarket Income REIT leases the majority of its stores to the four largest UK supermarket operators by market share, which are currently Tesco, Sainsbury’s, Asda and Morrisons.
A Tesco supermarket in Prescot, a Morrisons supermarket in Durham, an Aldi supermarket in Failsworth, and an Aldi supermarket and Marks and Spencer Foodhall in Liverpool are also part of the £113.1 million deal.
Ben Green, director of Atrato Capital Limited, the Investment Adviser to SUPR said: “These acquisitions provide geographic and tenant diversification, with the purchase of our first M&S Foodhall, as well as exposure to a number of high-quality omnichannel supermarket assets.
“With an aggregate WAULT of 15 years, they support our strategy to deliver attractive long-term income.”
Morrisons agreed to a £7bn takeover by the US private equity group Clayton, Dubilier & Rice in August and shareholders are expected to vote on the offer next month.
