Negotiations relating to potential acquisition

RNS Number : 4614T

NewRiver Retail Limited

30 March 2016

 

NewRiver Retail Limited

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

Negotiations relating to potential acquisition of Broadway Square, Bexleyheath

NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment and active asset management, confirms that it is in advanced negotiations with a vendor which may or may not lead to the acquisition of the Broadway shopping centre and Broadway Square in Bexleyheath town centre, London Borough of Bexley for approximately £120 million (subject to negotiation). The assets under consideration total 525,000 sq. ft. across an 11-acre site and are predominantly retail and leisure led. The potential acquisition is in line with the Company's stated acquisition criteria.

Negotiations are ongoing with the vendors, but there can be no certainty that an acquisition will be completed. The Company will make a further announcement as appropriate.

ENDS

For further information

NewRiver Retail Limited  David Lockhart, Chief Executive Mark Davies, Finance Director	Tel: [phone]
Bell Pottinger David Rydell / James Newman / David Bass	Tel: [phone]
Liberum Richard Crawley / Jamie Richards	Tel: [phone]
Peel Hunt LLP Capel Irwin	Tel: [phone]

About NewRiver

NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist real estate investor, asset manager and developer focused solely on the UK retail sector.

The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is one of the UK's largest shopping centre owner/managers with assets under management of over £1 billion principally comprising 32 UK wide shopping centres, further nationwide retail assets and a portfolio of 358 pubs with retail and mixed-use extension opportunities. The portfolio has 1,765 occupiers, a total of over 7.0 million sq. ft., total annual footfall of over 145 million and a retail occupancy rate of 97 per cent.

The Company's activities include active and entrepreneurial asset management and risk-controlled development, utilising both its own balance sheet and co-investment joint venture structures.

Founded in 2009, NewRiver has become the UK's leading retail-focused property investment business. The Company's shares were admitted to London's AIM in September of the same year. For more information on NewRiver, please visit www.nrr.co.uk  

 

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