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NewRiver Retail shows resilience

It hasn't been an easy year for shop landlords, but NewRiver Retail 's (NRR) portfolio of small shopping centres has proved surprisingly resilient. Valuations fell just 0.5 per cent, compared with 2 per cent for the index. They were supported by strong cash flows and high occupancy levels, which remains at 96 per cent. The only significant victim of the current wave of retail bankruptcies was a TJ Hughes unit, which the company is in negotiations to let back to the company that acquired the brand, reports chief executive David Lockhart.

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By Stephen Wilmot,
04 December 2012

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