9th Jul 2020 11:01
(Alliance News) - NewRiver REIT PLC on Thursday said performance of its retail and pub portfolio improved following the easing of lockdown restrictions across parts of the UK.
The company, which owns shopping centres, retail warehouses, high street units and public houses, said 81% of occupiers by gross income across its retail portfolio are now open, thanks to easing lockdown restrictions.
Of the total quarterly rent due on June 24, NewRiver REIT said 71% has either been collected or had alternative payment terms agreed with occupiers.
In the week starting from Monday last week, footfall across NewRiver REIT's shopping centres in England was more than doubled compared to footfall for the week commencing June 8, the last week before non-essential retailers were allowed to reopen, and 59% of the level seen for the same week last year.
Over 90% of New River REIT's community pubs in England have now reopened, following the lifting of restrictions by the UK government on Saturday last week.
Trading in the ocmpany's pubs has been "encouraging" so far, it said, with operator managed pubs delivering like-for-like sales growth of 4% over the reopening weekend, compared to the equivalent weekend last year. This performance reflects focus on wet-led community pubs, and the fact that over 70% of the company's sites have outside space.
NewRiver REIT shares were trading 0.3% higher in London on Thursday at 63.89 pence each.
By Evelina Grecenko; [email protected]
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