Acquisition of two U.K. supermarkets

W. P. Carey acquires two Morrisons grocery assets

Tenant Description:  One of the U.K.’s most recognizable supermarket brands
Total Investment: $68 million (£51 million)
Transaction Type: Acquisition of existing lease*
Location: U.K.
Square Footage: 122,000 square feet
Facility Type: 2 supermarkets and associated petrol stations

In July 2025, W. P. Carey completed the $68 million acquisition of two supermarkets and associated petrol stations in the U.K. Located in Loughborough and Ilkeston, the facilities are both leased to Morrisons, one of the U.K.’s largest supermarket brands, serving approximately 9 million customers across its network of nearly 500 stores every week.

Both facilities are strategically located within their respective areas. The facility in Loughborough is located in a densely built-up, residential neighborhood while the Ilkeston facility is surrounded by a mixture of small businesses and residential units. They are leased on a triple-net basis with built-in rent growth.

This acquisition builds on W. P. Carey’s ongoing relationship with Morrisons, following two prior acquisitions. The first, announced in January 2024, included a supermarket and an adjacent petrol station. The second, completed in December 2024, involved the acquisition of another supermarket along with a drive-thru that was leased to McDonald’s.

*In an acquisition of an existing lease, W. P. Carey will acquire a single-tenant property subject to an existing net lease. This type of transaction enables the previous property owner to achieve a number of different objectives depending on their needs. For example, exit a property that no longer fits its strategy, liquidate a finite-life fund or generate proceeds to invest in new properties or for M&A activity.