Supermarket Income REIT to acquire Tesco supermarket from Standard Life Investments for $88m.

Supermarket Income REIT, a real estate investment trust, agreed to acquire Tesco supermarket from Standard Life Investments, a provider of investment and asset management services, for $88m. Developed in 1993, and extensively refurbished in 2011, this prominent 10 acre site is located in the populous suburb of Hythe. The site comprises a 54k sq ft 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.