Buying Tesco, J Sainsbury and Waitrose stores in places ranging from Cumbernauld to Eastbourne might not be the most exciting activity, but it is the meat and grist of life for one young stock market vehicle.
Supermarket Income, a real estate investment trust, has a portfolio of just under 50 outlets in the UK, 23 of which it owns directly. The brisk pace of its acquisitions in recent months, backed by regular fundraisings including a £200 million share placing late last year, suggests that it won’t be long before its list of properties hits the £1 billion valuation mark.
Its position at the centre of a grocery market that has flourished during the pandemic might also help to explain why its shares trade at a
