TIDMNRR

RNS Number : 2284V

NewRiver REIT PLC

02 December 2019

NewRiver REIT plc

("NewRiver" or the "Company")

Completion of acquisition of Sprucefield Retail Park, Lisburn

NewRiver is pleased to announce that it has completed the acquisition of Sprucefield Retail Park, Lisburn from Intu Properties plc for GBP40.0 million, representing a net initial yield of 8.7%. This follows the announcement on 25 November 2019 that NewRiver had exchanged contracts for the acquisition.

The acquisition will generate an additional GBP3.7 million of annualised Net Property Income for NewRiver, which will be highly accretive to Underlying Funds From Operations and significant in improving dividend cover, which is the Company's key priority.

The gross asset value subject to this transaction is GBP40.0 million, and this has been satisfied from existing resources and available credit facilities.

For further information

 
     NewRiver REIT plc                               +44 (0)20 3328 5800 
     Allan Lockhart (Chief Executive) 
      Mark Davies (Chief Financial Officer) 
     Tom Loughran (Head of Investor 
      Relations) 
 
 
                               +44 (0)20 7251 
     Finsbury                   3801 
     Gordon Simpson 
      James Thompson 
 

About NewRiver

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK.

Our GBP1.3 billion portfolio covers 9 million sq ft and comprises 33 community shopping centres, 25 conveniently located retail parks and over 650 community pubs. Having hand-picked our assets since NewRiver was founded in 2009, we have deliberately focused on the fastest growing and most sustainable sub-sectors of the UK retail market, with grocery, convenience stores, value clothing, health & beauty and discounters forming the core of our retail portfolio. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders, while our active approach to asset management and in-built 2.3 million sq ft development pipeline provide further opportunities to extract value from our portfolio.

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR) and is a constituent of the FTSE 250 and EPRA indices. Visit www.nrr.co.uk for further information.

LEI Number: 2138004GX1VAUMH66L31

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

ACQFEFFWUFUSEDF

(END) Dow Jones Newswires

December 02, 2019 02:00 ET (07:00 GMT)

Newriver Reit (LSE:NRR)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Newriver Reit.
Newriver Reit (LSE:NRR)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Newriver Reit.