NewRiver REIT (NRR)

Sector:

Real Estate

Index:

FTSE Small Cap

80.90p
   
  • Change Today:
      3.40p
  • 52 Week High: 90.80
  • 52 Week Low: 73.30
  • Currency: UK Pounds
  • Shares Issued: 310.27m
  • Volume: 722,838
  • Market Cap: £251.01m

NewRiver REIT, Bravo sell Dorset retail park for £58m

By Michele Maatouk

Date: Thursday 23 Dec 2021

LONDON (ShareCast) - (Sharecast News) - NewRiver REIT said on Thursday that it and Bravo Strategies have completed the disposal of Poole Retail Park in Dorset for £58m.
This represents a net initial yield of 6.6%, a 7.4% premium to the latest valuation and is 30% higher than when NewRiver and Bravo bought the asset in October 2019.

In the two years since acquisition, NewRiver said it has completed several successful initiatives at the retail park. These include securing a 10-year lease extension and over 60% rental uplift with Homebase, which had undergone a CVA prior to the acquisition.

It also agreed new leases with existing occupiers Boots and Next and introduced Bensons for Beds to the park on a 10-year lease, replacing a former Laura Ashley unit. In February of this year, the company also completed a new 10-year lease for a 30,400 sq ft unit to Sports Direct, replacing a former DW Sports unit.

Chief executive Allan Lockhart said: "This disposal demonstrates the strong returns that can be generated from our experienced asset management platform through capital partnerships. In a short space of time we have completed numerous leasing transactions at the Retail Park which have improved the customer offer and supported the asset's income and valuation.

"We are delighted to have secured such good pricing on this disposal which demonstrates the inherent liquidity in our portfolio."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

NewRiver REIT Market Data

Currency UK Pounds
Share Price 80.90p
Change Today 3.40p
% Change 4.39 %
52 Week High 90.80
52 Week Low 73.30
Volume 722,838
Shares Issued 310.27m
Market Cap £251.01m

NewRiver REIT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
27.31% above the market average27.31% above the market average27.31% above the market average27.31% above the market average27.31% above the market average
39.53% above the sector average39.53% above the sector average39.53% above the sector average39.53% above the sector average39.53% above the sector average
Income
48.05% above the market average48.05% above the market average48.05% above the market average48.05% above the market average48.05% above the market average
41.94% above the sector average41.94% above the sector average41.94% above the sector average41.94% above the sector average41.94% above the sector average
Growth
80.01% below the market average80.01% below the market average80.01% below the market average80.01% below the market average80.01% below the market average
79.49% below the sector average79.49% below the sector average79.49% below the sector average79.49% below the sector average79.49% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

NewRiver REIT Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Dec-23 15-Jun-23
Paid 16-Jan-24 04-Aug-23
Amount 3.40p 3.20p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 50,302 @ 80.90p
16:35 191,381 @ 80.90p
16:35 2,614 @ 80.90p
16:35 4,879 @ 80.90p
16:35 8,463 @ 80.90p

NewRiver REIT Key Personnel

CEO Allan Lockhart
CFO Will Hobman

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