Portfolio purchase update
18 Maggio 2010 - 8:00AM
UK Regulatory
TIDMNRR
RNS Number : 0832M
NewRiver Retail Limited
18 May 2010
NewRiver Retail Limited ("the Company")
Portfolio Purchase Update
NewRiver Retail Limited (AIM:NRR), the specialist value-creating retail property
investment and asset management company, announces on behalf of NewRiver Retail
Investments LP, the co-investment joint venture with Morgan Stanley Real Estate
Investing (MSREI), that it has completed the acquisition of Albert Square
Shopping Centre in Widnes, the ninth and final asset in the UBS Triton UK retail
property portfolio.
This portfolio acquisition was originally announced by the Company on 1 March
2010. Acquired at a net initial yield of circa ten per cent., Albert Square is
an 84,500 sq ft shopping centre anchored by Iceland, Argos and WH Smith. The
purchase price for all nine assets was circa GBP49 million reflecting an overall
net initial yield of circa nine per cent.
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For further information:
NewRiver Retail Limited Tel:
01481 735 540
Serena Tremlett
NewRiver Capital Limited Tel:
0203 328 5802
David Lockhart
Cenkos
Tel: 020 7397 8900
Ian Soanes
Max Hartley
Pelham Bell Pottinger
Tel: 020 7861 3232
David Rydell
Rosanne Perry
About NewRiver
NewRiver Retail Limited is a specialist real estate investor and asset manager
with a particular focus on the UK retail sector. NewRiver Retail is advised on
property matters by its wholly-owned subsidiary, NewRiver Capital Limited, whose
management team, led by David Lockhart, have more than 75 years combined
experience in UK commercial property markets. 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.
It is NewRiver's intention to become one of the leading sector-focused
value-creating property investment businesses operating in the UK retail sector.
The Company was founded in 2009 and its shares were admitted to London's AIM and
Channel Islands Stock Exchange (CISX) in September of the same year.
For more information on NewRiver, please visit www.newriverretail.com and
www.newrivercapital.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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