9th Oct 2013 09:06
LONDON (Alliance News) - NewRiver Retail Limited Wednesday said it completed 23 new leasing events and increased its total portfolio occupancy to 95% between July and September.
In a portfolio update, the real estate investment trust specialising in retail property said its new leasing events reflected additional total rental income of GBP946,000 per annum and approximately 10.4% above estimated rental value.
During the period, the company increased the number of leases in the portfolio to 955 from 947, while it increased the average new lease length to 11.3 years.
Rental roll under management increased 2.8% to GBP42.4 million while the weighted average lease expiry remained "stable" at 8.1 years.
NewRiver shares were trading unchanged Tuesday morning at 241.50 pence.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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