LXi REIT PLC adds more food and discount stores to portfolio
The acquisitions are from five different vendors/developers including Aldi, Lidl and Waitrose
() has reinvested the proceeds from the sale of its BCA facility in Corby into eleven supermarkets and two discount stores.
The acquisitions are from five different vendors/developers including , and Waitrose at a total cost of £61mln and a net initial yield of 5.7%.
LXi said the deal reflects its focus on smaller sized food stores that also offer online fulfilment through either or both of home delivery and click & collect.
The sites are let or pre-let on long, index-linked or fixed uplift leases and take the portfolio’s average lease length to 22 years with 96% index-linked or fixed uplift rent reviews.
The trust added that its portfolio now comprises: Industrial (21%), Budget Hotels (21%), Foodstores and Essentials (20%), Healthcare (13%), Car Parks (8%), Pubs (5%), Drive-thru Coffee (4%) and Other (8%)..
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