Supermarket Income REIT has acquired a Tesco supermarket in Colchester, Essex, U.K., from Standard Life Investments Long Lease Fund for €73 million ($88 million).
Developed in 1993, and extensively refurbished in 2011, the 10-acre site is located in the populous suburb of Hythe. The site comprises a 54,300-square-foot net sales area supermarket, a 16-pump petrol filling station and 570 parking spaces. The store has several online fulfilment distribution docks supporting Tesco’s online grocery business across the region.
