The net proceeds of the transaction will be used to acquire new supermarket assets in accordance with the company’s investment policy.

The transaction is the second equity fundraise for the REIT in the last 12 months, having raised £100m in October 2019.

The transaction was led by corporate and M&A partner Robert Boyle, with assistance from senior counsel Mark Slade and solicitor Tim Wickenden. Tax expertise was provided by tax and reward partner Jeremy Moncrieff. 

Commenting on the transaction, Robert Boyle said: “We are delighted to have helped Supermarket Income REIT once again with this oversubscribed placing, which will increase the size and scale of the company, and allow it, among other things, to maximise its in-built economies of scale. Investors were, in these challenging times, clearly attracted to the secure RPI-linked income that supermarket leases provide.”