Supermarket Income REIT looks to raise £175m

Identified 'attractive' opportunities

The £1.5bn Supermarket Income REIT is looking to raise an additional £175m, to invest in “attractive acquisition opportunities” as the managers tell Investment Week about the current opportunities.

The issue price of 121 pence per share is a 4.3% discount to the closing price on 6 April. There will also be a retail offer at the same price through the PrimaryBid platform. The trust said that about £150m of assets were under exclusivity and additional assets worth about £120m were in "advanced due diligence". There was also a further pipeline worth about £440m. Nick Hewson, chair of the company, noted that 85% of the company's existing rental income is directly linked to growth in inflation. "Historically there has been a high degree of correlation between inflation and food pr...