LXi REIT PLC (LON:LXI) 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 Aldi, Lidl 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 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%)..