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New River Retail acquires four UK shopping centres

New River Retail has acquired four UK shopping centres from Zurich Assurance at a cost of £68 million. The purchase represents the company’s largest acquisition to date.

GENERAL MERCHANDISE

New River Retail acquires four UK shopping centres

Located in Carmarthen, Wisbech, Skegness and Paisley, the venues attract an annual footfall of 19 million. Tenants include The Co-operative, Poundland, TK Maxx and Boots.

David Lockhart, chief executive officer, said: “New River has now made £220 million of asset purchases in under two years and is demonstrating that its strategy of acquiring attractive high-yield, food anchored and value-led investments which benefit from our active asset management and risk controlled development skills is delivering for shareholders. We have immense ambition at New River and are now looking forward to the next stage of the company’s development.”

 

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