NewRiver REIT PLC Completion of acquisition (2284V)
02 Diciembre 2019 - 01:00AM
UK Regulatory
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
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END
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