NewRiver REIT PLC Operational update (4641S)
09 Luglio 2020 - 8:00AM
UK Regulatory
TIDMNRR
RNS Number : 4641S
NewRiver REIT PLC
09 July 2020
NewRiver REIT plc
("NewRiver" or the "Company")
Operational update
NewRiver is today providing an update on its retail portfolio
and Hawthorn Leisure pub business following the easing of lockdown
restrictions across parts of the UK.
Retail portfolio
Across our retail portfolio, 81% of occupiers by gross income
are now open. This figure will increase as lockdown restrictions
are eased further across the UK, and as occupiers progress their
phased store reopening plans.
Of the total quarterly rent due on 24 June 2020, 71% has either
been collected or had alternative payment terms agreed with
occupiers.
Retail rent due on 24 June 2020
Status % retail rent due
Collected 46%
==================
Deferred 12%
==================
Re-gear 13%
==================
Total collected or alternative payments
agreed 71%
==================
Waived 1%
==================
Rent outstanding 28%
==================
Total (%) 100%
==================
We have also made further progress in collecting rents for the
period from 25 March to 1 June, which we last reported on in our
Full Year Results. Rent collected for this period has increased to
57%, from the 52% previously reported, and rent outstanding has
improved to 18%, from 21%.
We continue to engage with occupiers with rent outstanding, to
either recover late payments or agree other arrangements. We are
confident that rent collection rates for this period will improve
further as normal trading conditions resume and the UK Government's
moratorium on forfeiture of commercial leases ends on 30 September
2020.
In the week commencing 29 June 2020, footfall across our
shopping centres in England was 105% ahead of footfall for the week
commencing 8 June 2020, the last week before non-essential
retailers were allowed to reopen, and 59% of the level seen for the
same week last year. This performance reflects the nature of our
assets, which are local and easily accessible on foot, and focused
on providing essential goods and services.
Hawthorn Leisure
Over 90% of our community pubs in England have now reopened,
following the lifting of restrictions by the UK Government on 4
July 2020. We have plans in place to reopen our pubs in Scotland
and Wales over the next two weeks.
The Hawthorn team collectively visited 192 of our community pubs
in England over the reopening weekend, providing support to our
tenants and pub partners as they welcomed back customers in a safe
and socially responsible way.
Trading in our pubs has been encouraging so far, with our
operator managed pubs delivering like-for-like sales growth of +4%
over the reopening weekend, compared to the equivalent weekend last
year. This performance reflects our focus on wet-led community
pubs, and the fact that over 70% of our sites have outside
space.
We were pleased with the Chancellor's announcement yesterday of
further support for the hospitality sector, which will be
beneficial to our tenants and pub partners, and also recognises the
vital role that hospitality plays in the UK economy.
For further information
NewRiver REIT plc +44 (0)20 3328 5800
Allan Lockhart (Chief Executive)
Mark Davies (Chief Financial Officer)
Tom Loughran (Head of Investor
Relations)
+44 (0)20 7251
Finsbury 3801
Gordon Simpson
James Thompson
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014 and has
been announced in accordance with the Company's obligations under
Article 17 of that Regulation. This announcement has been
authorised for release by the Board of Directors.
About NewRiver
NewRiver REIT plc ('NewRiver') is a leading Real Estate
Investment Trust specialising in buying, managing and developing
essential retail and leisure assets throughout the UK.
Our GBP1.2 billion portfolio covers 9 million sq ft and
comprises 33 community shopping centres, 25 conveniently
located
retail parks and over 700 community pubs. We hand-picked our
assets to deliberately focus on occupiers providing
essential goods and services, and avoid structurally challenged
sub-sectors such as department stores, mid-market
fashion and casual dining. This focus, combined with our
affordable rents and desirable locations, delivers sustainable and
growing returns for our shareholders, while our active approach to
asset management and inbuilt 2.5 million sq ft
development pipeline provide further opportunities to extract
value from our portfolio.
NewRiver has a Premium Listing on 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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END
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