LXi REIT adds more food and discount stores to portfolio

LXi REIT adds more food and discount stores to portfolio

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 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%)..

Published at Thu, 26 Nov 2020 08:22:00 +0000-LXi REIT adds more food and discount stores to portfolio