Sainsbury’s splashes out more than £400m on supermarket freeholds
Grocery giant Sainsbury’s has bought the freeholds of 21 supermarkets for £431.5m from Supermarket Income REIT (SIR).
The grocer acquired Supermarket Income REIT’s remaining 51% stake of the stores in the Highbury and Dragon investment vehicles, of which Sainsbury’s owned the remaining 49%. The purchase will be implemented through an acquisition by the supermarket chain of Cornerford Limited, Horndrift Limited, Avenell Property PLC and Hobart Property PLC.
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