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NewRiver REIT to sell community pubs; some retail assets
StockMarketWire.com
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Property investor NewRiver REIT said it had decided to divest its community pub business and non-core retail assets in the wake of the pandemic.
The company had reviewed is asset base and said it believed 'resilient retail assets in the future' would be located in catchments with long-term growth potential.
The also would have 'the right balance between the supply of physical retail space and demand for that space' and have an offering that met everyday customer needs.
'By 2025 our clear strategic aim is that assets in our portfolio will display only the characteristics of resilient retail and we believe that the collective measures outlined above will transform NewRiver into a more agile business committed to delivering attractive returns to shareholders,' the company said.
At 9:10am: (LON:NRR) Newriver Reit PLC share price was 0p at 68p
Story provided by StockMarketWire.com
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