RCS - NewRiver REIT plc - New Sainsbury’s in Dumfries Retail Park

Newriver ReitAnnouncement

04/03/2025 11:15

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RNS Number : 3040Z  NewRiver REIT PLC  04 March 2025

NewRiver REIT plc

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

 

New Sainsbury's in Dumfries Retail Park

 

 ·             New 15 year lease to Sainsbury's for a 48,100 sq ft unit in Cuckoo Bridge
               Retail Park in Dumfries
 ·             New Sainsbury's store reactivates former Homebase unit and demonstrates strong
               demand for NewRiver's retail park portfolio
 ·             Improved terms at a rent 60% above both previous rent and valuer's ERV
 ·             Creates the first Sainsbury's in Dumfries and new jobs
 ·             This letting demonstrates the strength of the UK retail market and the
               important role of the physical store network for omni-channel operators.

 

NewRiver announces a new letting to Sainsbury's at Cuckoo Bridge Retail Park
in Dumfries, creating the first Sainsbury's store in the area.

 

Sainsbury's has taken a new 15 year lease on the former Homebase store on
improved rental terms 60% above both the previous rent of Homebase and
valuer's ERV.

 

The new Sainsbury's store will deliver a new high-quality, yet affordable new
grocery offer to Dumfries, complementing the existing strong offer including
B&M, Dunelm, Food Warehouse, Costa Coffee and a Next click & collect
pod. Cuckoo Bridge Retail Park is well-located, serving as the dominant retail
park in Dumfries.

 

Sainsbury's has submitted a change of use application to Dumfries and Galloway
Council and subject to approval, the new store is due to open in early 2026,
and will create new jobs with the supermarket employing a team of at least 100
Sainsbury's colleagues.

 

NewRiver owns 13 retail parks and manages a further 18 retail parks on behalf
of its capital partners. Cuckoo Bridge Retail Park in Dumfries was acquired by
NewRiver in June 2016 and is owned 100% on balance sheet.

 

Allan Lockhart, CEO of NewRiver, commented: "Sainsbury's is one of our leading
retail partners and the introduction of a new Sainsbury's to the Dumfries area
demonstrates the strength of the UK retail market and role of the physical
store network for omni-channel operators. The new Sainsbury's promptly
reactivates the recently vacant Homebase store and will create new jobs and a
new supermarket offer for locals, providing high quality, great value products
to our consumers. We continue to see active demand for our retail parks, a
sub-sector we expect to continue to grow our investment in."

 

Patrick Dunne, Sainsbury's Chief Property and Procurement Officer, MD of Smart
Charge, said: "As we progress with our Next Level Sainsbury's plan, and our
commitment to bring more of our food offer to more customers, we are focused
on delivering fantastic new supermarkets in key locations where we know they
will succeed. This supermarket will showcase some of the best of Sainsbury's,
and we're excited to bring a new store to Dumfries for the first time.

 

We have a great pipeline of new store investment planned in Scotland, with
three new Scottish Sainsbury's stores opened already in 2025, and we're
delighted to have the chance to add another supermarket to it. We look forward
to sharing more details about our plans with elected representatives and the
local community in the coming weeks."

 

Ends

 

For further information

 

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

 Will Hobman (Chief Financial Officer)

 Lucy Mitchell (Director - Communications)

 

 

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

 Giles Barrie

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 £0.9 billion UK wide portfolio covering 8.2
million sq ft, comprising 28 community shopping centres and 13 conveniently
located retail parks occupied by tenants predominately focused on essential
goods and services. In addition, we manage 22 shopping centres and 18 retail
parks on behalf of Capital Partners, taking our total Assets Under Management
to £2.5 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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