Yorkshire retail assets snapped up in £69m portfolio deal
A RETAIL portfolio has been snapped up by property investors NewRiver for £69.1m.
The Ramsay Retail Warehouse portfolio has been acquired from a “major” foodstore operator following food and retail specialist REIT NewRiver Retail’s fundraising of £150m from the placing of 50m shares.
The 462,916 sq ft portfolio includes retail parks in Bradford, the E5, Leeds’ Kirkstall Retail Park, home to Boots and Matalan, and Beverley’s Victoria Road retail park.
It also contains the 45,125 sq ft Saltney Retail Park in Chester, Kendal’s 63,546 sq ft South Lakeland Retail Park and Liverpool’s Speke Centre, as well as sites in Wales, Leicestershire and Dumfries in Scotland.
David Lockhart, chief executive at NewRiver Retail, said: “We are delighted to announce the Ramsay Retail Warehouse Portfolio acquisition which will be funded by the proceeds from our recent fundraise, the result of which reflects the great support we continue to receive from new and existing shareholders for the Company’s growth strategy.
“This attractive yielding Portfolio benefits from a strong retailing covenant leading to a secure and sustainable income stream and presents an immediate opportunity for NewRiver to pursue a range of value-enhancing asset management and risk controlled development initiatives.”
Founded in 2009, NewRiver Retail is one of the UK’s largest shopping centre owner/managers which £849m in assets under management with 29 national shopping centres and a portfolio of 202 public houses.
