Investment trust snaps up Morrisons store in Telford for £14.3m
A grocery property specialist has acquired a Morrisons supermarket in Telford for £14.3 million.
Supermarket Income REIT has acquired the four-acre Morrisons site in Lawley from Santander Trustees.
The deal is not expected to have any impact on shoppers.
The site was developed in 2012 and is in the centre of Lawley Village, a new 3,550-home development.
The site comprises a 42,434 sq ft gross internal area supermarket with 220 parking spaces and an online click-and-collect facility.
It is being acquired with an unexpired lease term of 17 years with a break option in year 12.
Ben Green, a director of Atrato Capital, the trust’s investment adviser, said: "This transaction represents an opportunity to acquire a modern Morrisons supermarket that is ideally located to benefit from the growing catchment at the centre of a significant 3,550-home development.
"We are also pleased to extend our relationship with BLB, a key funding partner for us as we grow."
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