NewRiver Retail, the UK’s 4th largest* owner/manager of shopping centres, is a leading specialist REIT focused on the UK food and value retail sector with the ambition to become the leading value-creating property investment platform in the sector.

With a core UK-wide portfolio and assets under management of £450m comprising 24 shopping centres, 16 High Street units and one shopping parade, NewRiver Retail has a clear investment strategy focused on driving income returns and delivering results for both our shareholders and in the towns of our retailers and shoppers.

As leading specialists in food and value retail NewRiver Retail has a pro-active asset management strategy and risk controlled development programme designed to enhance the value of our assets, improve the quality and length of our income streams and deliver a dynamic retail experience.

NewRiver are committed to driving innovation in a sector that remains resilient with proven year on year growth. We believe that retail property owners should manage their shopping centres as if they were retailers and we actively engage with investors, retailers, consumers and local stakeholders alike to achieve this.

We aim to be one of the highest performing listed Real Estate companies in Europe. With a highly experienced management team comprising over 100 years of combined experience in the market we are confident our income producing business model will deliver this to our investors.

*largest as defined by number over 50,000 sq ft

The company is a leading sector focused Real estate Investment Trust (REIT) and is publicly tracked on the London Stock Exchange, AiM and CISX market under the symbol NRR.

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New River Retail Fundamentals

Third Quarter Portfolio Update


NewRiver Retail Limited (AIM: NRR), the UK REIT specilaising in value-creating retail property investment and active asset management, announces the following portfolio update for the third quarter ending 31 December 2014.

The third quarter, inclusive of the key Christmas trading period, has been another highly active period for NewRiver. The Company completed a number of key acquisitions, growing the portfolio by 8.8% to £800 million at the end of December (Sept 2014: £735 million) and continued to deliver a significant number of value-enhancing asset management and development initiatives.

Highlights

§ Assets under management increased by 8.8% to £800 million (Sept 2014: £735 million)
§ Total of £30.3 million of acquisitions comprising two shopping centres, five high street units and two retail warehouses
§ Total rent roll under management increased by 4.9% to £70.7 million pa (Sept 2014: £67.4 million)
§ Completed 54 new leasing events of which new long-term leasing events achieved a rental income of 7.8% above valuation ERV with an average lease length of 7.6 years. Occupier incentives continue to decrease, now at an average of 5 months equivalent rent for the period
§ Weighted Average Lease Expiry ("WALE") for the retail portfolio was 7.6 years (Sept 2014: 7.9 years)
§ Maintained a stable retail portfolio occupancy rate of 96%
§ Sustained an affordable average retail rent of £12.72 per sq ft (Sept 2014: £11.87)
§ Top ten retailers within the portfolio defined by rental income remain strong national covenants and include Poundland, New Look, Superdrug, Primark, Wilkinson, Dixons Carphone, BHS, Boots and Argos
§ In the period 24 planning applications were submitted, which if granted will enable the Company to deliver over 78,000 sq ft of new development space for retail-led and mixed-use, including C-Store, hotels, leisure and residential
§ Footfall continues to grow across the portfolio delivering a 3.47% uplift in like for like figures for the period. This was boosted by the Christmas trade and Black Friday with various shopping centres reporting uplifts of between 6% and 20%; annual footfall for the portfolio totals over 122 million
§ Post period end, successful equity fundraise of £75 million at 275 pence per share, enabling the Company to acquire a major shopping centre portfolio with assets across the UK
§ Quarterly dividend policy commenced with a second interim dividend of 4.25 pence per share announced in November 2014 and a third interim dividend of 4.25 pence per share announced in December 2014.

Successful Equity Fundraise and Acquisition:

Post period end, NewRiver announced the successful completion of an equity fundraise of £75 million. The fundraise was voted on by shareholders at an EGM on Thursday 8 January 2015. Accordingly, the Company has issued 27,272,727 of new ordinary shares. The new shares were issued at 275p per share which was a 9.1% Premium to the reported EPRA NAV Per Share. Funds raised enabled NewRiver to acquire the remaining 90% of a major shopping centre portfolio for £71 million from LVS with assets across the UK, the completion of which was announced on 15 January 2015.

Quarterly Dividends:

In November the Board declared that a second quarterly dividend of 4.25 pence per share would be paid on 30 January 2015 to shareholders. On 03 December 2014 the Company announced a third quarterly dividend of 4.25 pence per share to be paid on 30 January 2015 to shareholders on the register on 5 January 2015. The Company expects to pay its fourth quarterly dividend for the year ended 31 March 2015 in April 2015.

Final Results

Strong market and best financial year to date
Financial highlights (1)
Delivering strong returns to shareholders
· EPRA adjusted profit(2) of £20.9 million (2014: £9.5 million)

· EPRA adjusted earnings per share of 19.8 pence (2014: 15.7 pence)

· Profit before tax of £39.5 million (2014: £23.1 million)

· Total Shareholder Return of 16% (2014: 55%)

· Dividends increased by 6.25% to 17 pence fully covered (2014: 16 pence).

· EPRA NAV of 265 pence increased by 10.5% (2014: 240 pence)

· Basic EPS of 37.5 pence (2014: 38.0 pence)

· Successful equity placing of £75 million to fund £71 million acquisition from Bravo I

Operational highlights (1)
Portfolio growth is driving value
· Total Acquisitions of £330 million

· 42% increase in assets under management to £848 million (NRR share: £626m)

· Successful £40.2 million recycling of equity

· 216 total leasing events; all new long-term lettings 10.1% above ERV

· Strong progress on Marston's portfolio

· Growing 1.25 million sq ft development programme

· 52 planning applications submitted; 24 consents received

· Enhanced occupancy of 96% (2014: 95%)

· Estates Gazette Property Company of the Year - Retail & Leisure Awards 2014

(1) Unless otherwise stated all figures include share of joint ventures

(2) EPRA Adjusted Profit is the total of EPRA recurring Profit plus Profit/Loss on disposal of Investment Properties


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Proposed Placing

Highlights

Proposed Placing to raise gross proceeds of £150 million at 300 pence per share to fund:
the circa £29 million consideration for the acquisition of the 50 per cent. stake not already owned by NewRiver in the Trent JPUT (the Marston's portfolio) at an implied net initial yield of 10.1 per cent.
the circa £23 million consideration for the acquisition of the 50 per cent. stake not already owned by NewRiver in the Camel III JPUT (a portfolio of five shopping centres) at an implied net initial yield of 7.2 per cent.
the Company's near term acquisition and development pipeline
Announcement of intention to move from AIM to the Main Market of the London Stock Exchange
Declaration of interim dividend for the quarter ended 30 June 2015 of 4.5 pence per share (the "First Quarterly Dividend")

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Q1 Portfolio Update

Strong first quarter performance with £150 million equity fundraise, key acquisitions with continued value-enhancing asset management and its risk-controlled development progress

NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment and active asset management, announces the following portfolio update for the first quarter, beginning 1 April 2015 and ending 30 June 2015.

The Company has begun its financial year with a highly active and successful first quarter. The highlight was NewRiver's £150 million equity fundraise as announced on 19 June 2015 for which the majority of proceeds are committed. The Company also completed a number of acquisitions and one disposal with assets under management at the end of June 2015 totalling £849 million (31 March 2015: £848 million). Furthermore, the Company completed a significant number of value-enhancing active asset management and development initiatives.

HIGHLIGHTS

Completed a £150 million equity fundraise through the issue of 50,000,000 new ordinary shares at 300 pence per share, for which majority of the proceeds are committed
Post period end exchange of contracts for the £69.10 million acquisition of the Ramsay retail park portfolio at a yield of 8.03%
Exchange of contracts to acquire the remaining 50% of two separate joint ventures (Camel III and Trent) from LVS, a subsidiary of Bravo II*
Completed £7.23 million of acquisitions at an average net initial yield of 8.68%
Disposal of a portfolio of high street assets totalling £6.00 million, acquired in December 2014 for £5.00 million resulting in an IRR of 43.9%
Assets under management total £849 million at the end of June 2015 (31 March 2015: £848 million); on completion of the Ramsay portfolio NewRiver's assets under management will total nearly £920 million
Maintained a stable retail occupancy rate of 96%, at an average retail rent of £12.38 per sq ft (31 March 2015: 96% and £12.36 per sq ft respectively)
Weighted Average Lease Expiry ("WALE") for the retail portfolio is 7.5 years (31 March 2015: 7.4 years)
Successfully completed 55 new lettings and lease renewals during the period securing a total of £1.37 million per annum in long-term rent. New long-term leasing events achieved a rental income of 2.1% above valuation ERV with an average lease length of 9.4 years
Significant progress with the pub portfolio conversion programme, submitting a further six planning applications and successfully securing another three consents taking the total number of planning applications submitted to 45 and total planning consents received to 13.
Progress continues across the Company's growing development pipeline, comprising a total of 1.25 million sq ft of mixed-use, retail and leisure space which also includes hotels and residential

Acquisition completion

Further to recent announcements, NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment and active asset management, is pleased to announce the completion of three strategic acquisitions totalling £121 million marking the deployment of the majority of the £150 million raised in the Company's recent equity fund raise.

· The Ramsay Retail Warehouse Portfolio for a total consideration of £69.1 million, equating to a net initial yield of 8.0 per cent. on the income producing assets. The geographically diverse portfolio has been acquired from a major foodstore operator and comprises 13 assets and includes nine value-led retail parks and four development sites each with approved planning consents and pre-let interest from retailers;

· The £29 million acquisition from LVS, a subsidiary of Bravo II*, for the acquisition of the 50 per cent. stake not already owned by NewRiver in the Trent JPUT - the Marston's public house portfolio - at an implied net initial yield of 10.1 per cent bringing the portfolio 100 per cent. under NewRiver's ownership;

· The £23 million acquisition from LVS, a subsidiary of Bravo II*, of the 50 per cent. stake not already owned by NewRiver, in the Camel III JPUT - a portfolio of five shopping centres reflecting an implied net initial yield of 7.2 per cent bringing the portfolio 100 per cent. under NewRiver's ownership.

The three acquisitions, together with planned capital expenditure for identified risk-controlled development opportunities, will effectively deploy the £150 million raised in the Placing of new shares as announced on 19 June 2015.

Exchange of contracts for £53.5 million acquisition
of 158 Pubs from Punch Taverns, at a net initial yield of 13.61%

Is this one you still watch skinny? Divi still being quoted as somewhere around 7%.

Not for some time - sorry Harry.