Business
Third Quarter Company Update
NewRiver REIT plc reported a strong third quarter with £2.1 million in annualised income from 234,500 sq ft of new lettings and renewals, achieving occupancy of 96.1% and a 91% retailer retention rate. The company completed £12.6 million in disposals during Q3 and has exchanged contracts for a further £26.5 million, targeting approximately £40 million in disposals for the second half of the year. Significant regeneration progress includes a conditional agreement for a JV in Burgess Hill and an agreement for lease at the Capitol Centre in Cardiff, reducing the portfolio weighting to Work Out and Other assets to 1%. Customer spending in-store was in-line with the prior year, with notable growth in Grocery, Non-Food Discount, F&B, and Health & Beauty segments. Disclaimer*
About this update from Newriver Reit Plc
[{"type":"text","content":"\n\n \nNewRiver REIT plc\n(\"NewRiver\" or the \"Company\")\n \nThird Quarter Company Update\n \nPositive leasing activity, rising occupancy & capital recycling underpin strong quarter\n \nAllan Lockhart, Chief Executive, commented: \"We delivered another strong quarter of operational performance, with growing demand across our core markets driving strong leasing activity and rising occupancy. We remained disciplined in recycling capital, improving our portfolio quality and strengthening our financial position.\n \nWith market conditions becoming more supportive and our portfolio in its best shape since before the pandemic, we move into FY27 with real momentum. We are confident in our ability to deliver further earnings growth and a well covered dividend.\"\n \nAnother strong quarter of leasing performance\n\n\n\n\n●\n\n\nDuring Q3 completed 234,500 sq ft of new lettings and renewals, securing £2.1 million in annualised income across 98 transactions; long-term transactions were completed in-line with ERV and +56.9% vs prior rent\n\n\n\n\n●\n\n\nKey leasing transactions in Q3 include deals with Boots and B&M in Middlesbrough and H&M in Bexleyheath\n\n\n\n\n●\n\n\nYear to date completed 650,800 sq ft of leasing, with long-term transactions +8.2% vs ERV and +31.1% vs prior rent\n\n\n\n\n●\n\n\nOngoing constructive discussions to mitigate the impact of H1 retailer restructurings and no subsequent restructurings announced\n\n\n\n\n\n \nOperational metrics trending positively supported by resilient consumer spend data1\n\n\n\n\n●\n\n\nOccupancy increased to 96.1% (vs 95.3% at 30 September 2025) and retailer retention rate remains high at 91%\n\n\n\n\n●\n\n\nTotal in-store customer spending in the important Christmas quarter was in-line with last year. We saw strong performance in Grocery which is our largest spending segment with +6.2% vs same quarter last year\n\n\n\n\n●\n\n\nTotal in-store customer spending for the year to December 2025 was also in-line with last year; Non-Food Discount delivered +7.2% sales growth, F&B +4.0% and Health & Beauty +2.4%, offsetting some weakness in Value Fashion at -1.1%\n\n\n\n\n●\n\n\nAs of 1 April 2026, the new rateable values across our portfolio are expected to increase by 7%, which is more than offset by the recently announced discount for r...