NewRiver

Last updated
NewRiver REIT
Company type REIT
LSE:  NRR
Industry Property
Founded2009
Headquarters
London
,
United Kingdom
Key people
 Margaret Ford (Chairman)
Allan Lockhart (CEO)
RevenueDecrease2.svg £72.2 million (2023) [1]
Increase2.svg £34.6 million (2023) [1]
Increase2.svg £(16.8) million (2023) [1]
Website nrr.co.uk

NewRiver REIT plc is a specialist listed real estate investment trust (REIT), focused primarily on retail and leisure property. The company owns 33 shopping centres, 25 retail warehouses, 14 high street units and over 700 public houses. [2] The company is listed on the London Stock Exchange.

Contents

History

The company was established by Allan Lockhart and David Lockhart as a property company focusing on the retail sector under the name NewRiver Retail in September 2008. [3] [4] The company was the subject of an initial public offering on the London Stock Exchange in September 2009. [5]

In 2009 Mark Davies, [6] [7] the then-husband (divorced in 2017) of the Conservative MP Mims Davies joined the company as finance director. [8] The company have since donated to her "local party organisation or indirectly via a central party organisation" [9]

The company acquired 202 pubs from Marston's for £90 million in December 2013 [10] and 158 pubs from Punch Taverns for £53.5 million in August 2015. [11] The company altered its structure and changed its name to NewRiver REIT in July 2016. [12]

In February 2018, David Lockhart stepped down as CEO and was replaced by Allan Lockhart. David Lockhart became Executive Deputy Chairman. [13]

In September 2024, the company made a takeover offer for Capital & Regional worth £147 million. [14]

Operations

The company owns numerous shopping centres (geographically north to south): [15]

Sovereign Shopping Centre, Boscombe Boscombe, Sovereign Shopping Centre - geograph.org.uk - 881990.jpg
Sovereign Shopping Centre, Boscombe

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References

  1. 1 2 3 "Annual Results 2023" (PDF). NewRiver. Retrieved 15 February 2024.
  2. ↑ "NewRiver REIT plc - About us". NewRiver REIT plc - about us. Retrieved 2 December 2019.
  3. ↑ "NewRiver Retail Limited". Companies House. Retrieved 9 October 2015.
  4. ↑ "Lunch with David Lockhart of New River". EstatesGazette. 5 October 2011. Retrieved 3 December 2016.
  5. ↑ Taylor, Peter (17 August 2009). "Vulture property fund New River Retail tables vastly reduced IPO proposal" . Retrieved 3 December 2016.
  6. ↑ "NewRiver Retail Limited". Companies House. Retrieved 9 October 2015.
  7. ↑ "Executive Profile: Mark Davies". Bloomberg LP. Retrieved 6 February 2018.
  8. ↑ Tim Carr; Iain Dale; Robert Waller (22 May 2015). The Politicos Guide to the New House of Commons 2015: Profiles of the New MPs and Analysis of the 2015 General Election Results. Biteback Publishing. p. 222. ISBN   978-1-84954-924-0 . Retrieved 9 October 2015.
  9. ↑ "Register of Members' Interests". theyworkforyou. Retrieved 9 October 2015.
  10. ↑ "NewRiver acquires 202 public houses from Marston's Plc to convert into retail". property-magazine. 11 December 2013. Retrieved 9 October 2015.
  11. ↑ "Punch Taverns strikes deal to sell 158 pubs". The Telegraph. 24 August 2015. Retrieved 9 October 2015.
  12. ↑ "NewRiver Tables Plans To Insert New Parent Company NewRiver REIT". Morning Star. 11 July 2016. Retrieved 3 December 2016.
  13. ↑ "Appointment of David Lockhart to Executive Deputy Chairman; Appointment of Allan Lockhart to Chief Executive Officer" (Press release). London Stock Exchange. 8 February 2018.
  14. ↑ "NewRiver REIT agrees to acquire Capital & Regional - deal values it at approximately £147m". Insider Media. 24 September 2024. Retrieved 5 December 2024.
  15. ↑ "NewRiver Retail Limited". NewRiver Retail Portfolio. Retrieved 15 December 2015.


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