Sainsbury’s has exercised its second purchase option to acquire eight stores within its Sainsbury’s Reversion Portfolio, Supermarket Income REIT and British Airways Pension Trustees, which operate a 50-50 joint venture invested in a supermarket portfolio, announced on Jan. 6.
Sainsbury’s is the second-largest chain of supermarkets in the United Kingdom, with a 16 percent share of the supermarket sector.
The joint venture holds a 51 percent beneficial interest in the Sainsbury’s Reversion Portfolio, which consists of the freeholds to 26 Sainsbury’s supermarkets. The remaining 49 percent beneficial interest is held by Sainsbury’s.
Sainsbury’s acquisition of the eight stores will be completed in July 2023 upon expiry of the current occupational leases. The purchase price under the option is to be determined based on the assumption of a new 20-year lease to Sainsbury’s.
In September 2021, Sainsbury’s exercised its first option to acquire 13
