LXI Reit PLC adds Aldi and Lidl sites as shift towards food stores continues
“This capital recycling reflects the company’s continuing, but selective, expansion into the foodstore sector”
() has disposed of three non-food properties for £17mln and acquired two sites for £15mln where the tenants are discount grocers and .
In a statement, Simon Lee, Co-Manager of LXI REIT said: “This capital recycling reflects the company’s continuing, but selective, expansion into the foodstore sector, with a particular focus on right-sized stores acquired off-market at attractive yields and let or pre-let to strong tenants on low, sustainable rents.”
On the way out are an office in Glasgow, a group of social housing assets and excess land at a Travelodge site, while LXI has exchanged contracts on a new foodstore in Nottinghamshire pre-let to for 25 years and acquired the lease of a store occupied by in Lytham St Annes.
“The sales have crystallised attractive returns on assets from which we have extracted maximum value,” added Lee.
Read More: LXI Reit PLC adds Aldi and Lidl sites as shift towards food stores continues