RCS - NewRiver REIT plc - Agreement for Joint Venture in Burgess Hill

Newriver ReitAnnouncement

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RNS Number : 0863L  NewRiver REIT PLC  11 December 2025

NewRiver REIT plc

("NewRiver" or the "Company" or the "Group")

 

Over-Arching Agreement signed with Mid Sussex District Council

to deliver major regeneration Joint Venture

 

NewRiver announces that it has entered into a conditional Agreement to form a
Joint Venture with Mid Sussex District Council, to deliver the mixed-use
regeneration of The Martlets shopping centre in Burgess Hill, Mid Sussex.

 

The Agreement sets out the conditional framework for the two parties' shared
ambition to deliver the proposed regeneration of The Martlets Shopping Centre,
that will transform the outdated 1970's centre into a modern and vibrant
retail and leisure destination in the heart of the town, and create new homes
and jobs.

 

The proposed development has planning consent to deliver 172 new homes, a 102
room hotel, 50,000 sq ft of new retail including a 21,000 sq ft food store and
enhanced public realm.

 

The Joint Venture will be formalised once a series of conditions have been
realised including the sale of the residential site which is under offer, and
pre-lets of the food store and hotel for which the legal negotiations are well
advanced. It is anticipated that the Agreement's conditionality will be
satisfied by the end of March 2026, with construction due to commence summer
2026 and completing in 2028.

 

Allan Lockhart, Chief Executive at NewRiver commented: "This conditional
Agreement represents a major milestone for the delivery of a flagship town
centre regeneration and the creation of a high impact and transformative
partnership. We have worked with Mid Sussex District Council over the years to
deliver a capital light and commercially viable strategy to regenerate The
Martlets. We look forward to working together to deliver this exciting
regeneration project that will create lasting value for the Burgess Hill
community and our shareholders."

 

Kathryn Hall, Chief Executive at Mid Sussex District Council commented: "This
Agreement provides the structure for an ambitious joint venture that brings
together our respective strengths across public and private partnership. The
regeneration of The Martlets forms part of Mid Sussex District Council's
long-term masterplan for the region which has already seen significant
investment and progress. We will now focus on satisfying the conditions and we
look forward to moving into the next phase of delivering this important
regeneration for the Burgess Hill community and wider area which will bring
about lasting long-term prosperity."

 

Ends

 

For further information

 

 NewRiver REIT plc                             +44 (0)20 3328 5800
 Allan Lockhart (Chief Executive)

 Will Hobman (Chief Financial Officer)

 

 

 FTI Consulting              +44 (0)20 3727 1000
 Dido Laurimore

 Eve Kirmatzis

 

About NewRiver

 

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust
specialising in buying, managing and developing resilient retail assets
throughout the UK. Following the completion of its acquisition of Capital
& Regional in December 2024, NewRiver has a £0.8 billion UK wide
portfolio covering 7.7 million sq ft, comprising 25 community shopping centres
and 13 conveniently located retail parks occupied by tenants predominately
focused on essential goods and services. In addition, we manage 19 shopping
centres and 18 retail parks on behalf of Capital Partners, taking our total
Assets Under Management to £2.3 billion. Our objective is to own and manage
the most resilient retail portfolio in the UK, focused on retail parks, core
shopping centres and regeneration opportunities to deliver long-term
attractive recurring income returns and capital growth for our shareholders.

 

NewRiver is listed on the Equity shares (commercial companies) category of the
Main Market of the London Stock Exchange (ticker: NRR). Visit www.nrr.co.uk
for further information.

 

LEI Number: 2138004GX1VAUMH66L31

 

 

 

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