Supermarket Income REIT has acquired a portfolio of Carrefour supermarkets in France for a total purchase price of €75.3 million reflecting a net initial yield of 6.3%.

The Carrefour portfolio comprises 17 strong performing omnichannel supermarkets, which are geographically diversified, with a weighting towards northern France, and operated under the Carrefour Market brand. The stores have an average gross internal area of c.40,000 sq ft, with a long history of successful trading and form a key part of Carrefour’s “Drive” online grocery fulfilment network within their respective catchments.

Ben Green, Director of Atrato Capital Limited, the Investment Adviser to Supermarket Income REIT plc, said:  

“We are delighted to have completed this strategic sale and lease back transaction with Carrefour, one of the largest grocers in the world. The transaction represents the Company’s first investment in the €284 billion French grocery real estate market.

This accretive transaction is complementary to our existing portfolio, providing further tenant diversification and continues our strategy of investing in the future model of grocery.”

Below is a video, shot with the investment team of Atrato Group, the advisors behind SUPR, highlighting the Group’s investment strategy