Macfarlanes advises Supermarket Income REIT plc on the £104m acquisition of two supermarkets and a related £52.1m loan facility

30 July 2018

Macfarlanes has advised UK supermarket real estate investor, Supermarket Income REIT plc, on its latest acquisitions, the purchase of a Morrisons supermarket in Sheffield from property developer Opus North for £51.7m and the purchase of a Tesco store in Scunthorpe from Legal & General for £53m.

Macfarlanes also advised on a related five-year £52.1m interest-only loan facility with Bayerische Landesbank.

The firm has advised Supermarket Income REIT plc since its IPO onto the Specialist Fund Segment of the Main Market of the London Stock Exchange last July.

The team for this matter was led by real estate partner Nick Barnes and finance partner Colin Morgan with assistance from senior solicitor Rachael Ashton (real estate), senior solicitor Lizzie Chamberlain (finance), solicitor Rebecca Ashton (real estate), solicitor Chris Smith (real estate) and solicitor Matthew Mawson (finance). Tax partner Jeremy Moncrieff and solicitor Catherine Hill  provided tax advice and senior counsel Mark Slade provided advice on the corporate aspects.

Nick Barnes comments: “We are delighted to have helped Supermarket Income REIT plc on the acquisition of these further properties, and the related facility, for its growing portfolio.”