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NewRiver REIT mulls listing pubs business

NewRiver REIT is considering an initial public offering (IPO) of its pubs business Hawthorn as part of a strategic overhaul.

The group said one of its strategic priorities was to divest the community pub business “in order to reset our LTV and provide firepower to reshape our portfolio”.

This, it said, included a potential IPO of Hawthorn. NewRiver chief financial officer Mark Davies will lead a potential IPO.

Davies has been chief executive of Hawthorn since 2019 and also sits on the board of the British Beer and Pub Association.

NewRiver said it also wants to sell off non-core retail  assets to recycle the capital into “resilient retail” – those it says are located in catchments with long-term growth potential and the right balance between the supply of physical retail space and demand for that space; and have an offering that meets the everyday needs of customers while playing a distinct role within their communities.

The group will also work with sector specialists and other partners to bring forward development at its regeneration assets.

By 2025, it said it aims to have all assets in its portfolio to display the characteristics of resilient retail.

NRR : NewRiver REIT mulls listing pubs business

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