NewRiver REIT PLC NewRiver Capital Markets Day (7064N)
26 Septiembre 2019 - 1:01AM
UK Regulatory
TIDMNRR
RNS Number : 7064N
NewRiver REIT PLC
26 September 2019
NewRiver REIT plc
("NewRiver" or the "Company")
Capital Markets Day
NewRiver will today hold a Capital Markets Day for analysts and
institutional investors, during which the Company will provide
further information on its current investment focus and demonstrate
the alternative use value inherent within its portfolio of retail
assets.
In addition, the Company will provide an update on its capital
recycling programme, a key strategy to re-establish dividend cover.
As stated at its Full Year Results announcement on 23 May 2019,
NewRiver has a target to recycle a minimum of 5% of its portfolio
in FY20 (c.GBP64 million).
In FY20 to date, the Company has either completed, exchanged or
is under offer on GBP57.9 million of disposals on terms 1.2% above
book value, reflecting a blended net initial yield ('NIY') of
5.4%.
The Company has deployed the proceeds of its completed disposals
(GBP29.9 million) into the acquisition of five retail parks in its
newly formed joint venture (NRR share of gross assets: GBP34.7
million), at a blended NIY of 9.0%.
No new material disclosures will be made during the event.
Presentation materials will be made available at www.nrr.co.uk
later this afternoon, with an audio recording of the presentation
made available at the same address as soon as practicable after the
event.
For further information
NewRiver REIT plc +44 (0)20 3328 5800
Allan Lockhart (Chief Executive)
Mark Davies (Chief Financial Officer)
Will Hobman (Head of Investor
Relations & Strategy)
+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 over 9 million sq ft and
comprises 33 community shopping centres, 23 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 1.9 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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