NewRiver REIT acquires two retail parks for £26 million – NewRiver REIT (NRR) has announced that it has completed the acquisition of two retail parks for a combined consideration of £26.5 million. The company reports that this represents an initial yield of 8.9% and a capital value of £141 per sq ft.
The retail parks are in Dewsbury, West Yorkshire and Cardiff. As well as the existing tenants, the company have identified occupier demand in both locations and believe that it presents the company with the opportunity to add value through active asset management.
NewRiver REIT is a specialist in retail property and in their announcement they state that this is in keeping with their long term strategy.
NRR : NewRiver REIT acquires two retail parks for £26 million