REG - NewRiver REIT plc - Completion of Disposal

Newriver ReitAnnouncement

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RNS Number : 7548V  NewRiver REIT PLC  09 March 2026

 

NewRiver REIT plc

("NewRiver" or the "Company")

 

Completion of Disposal of Cuckoo Bridge Retail Park, Dumfries

 

NewRiver is pleased to announce that it has completed the sale of Cuckoo
Bridge Retail Park, Dumfries, to an institutional investor for consideration
of £26.5 million, reflecting a net initial yield of 6.9%, and in-line with
the terms and timelines announced within the Company's Third Quarter Update in
January 2026.

 

Following this transaction, NewRiver has now completed £110 million of
disposals in FY26, in-line with book value. The proceeds from the sale
increase the Company's cash holdings to in excess of £100 million and reduce
Group LTV to close to the Company's medium term guidance level of <40%.

 

The sale follows the successful execution of NewRiver's asset management
strategy for Cuckoo Bridge Retail Park. Since acquisition in 2016, NewRiver
has significantly enhanced the tenant line‑up, delivered material
improvements to net income, and strengthened the WAULT through active leasing
and redevelopment initiatives. Key initiatives have included:

 

 ●    A new lease on the former Homebase unit to Sainsbury's, delivering a
      substantial uplift in rent and securing a new 15‑year CPI‑linked lease.

 ●    The reconfiguration of two units into redesigned formats let to Food Warehouse
      and Next, further enhancing the Park's consumer appeal and income profile.

 

Allan Lockhart, Chief Executive commented: "This sale is a clear endorsement
of our focused asset management strategy and the quality of execution
delivered by our best-in-class retail park team. Through smart leasing,
repositioning and disciplined investment, we have materially enhanced both the
quality and durability of the income in this retail park.

 

The sale price, reflecting a sub 7% yield, is an excellent outcome in
southwest Scotland and demonstrates the success of our platform, the strength
of our portfolio of assets, and the continued institutional demand for high
quality retail parks. The transaction strengthens our balance sheet, enhances
financial flexibility and positions us well as we continue to pursue
disciplined growth and value creation for shareholders."

 

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 7.0 million sq ft, comprising 24 community shopping centres
and 11 conveniently located retail parks occupied by tenants predominately
focused on essential goods and services. In addition, we manage 19 shopping
centres and 17 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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