NewRiver snaps up Gloucester and Wiltshire sites

Tuesday, 23rd September 2014

Sourced from Insider News - follow link to original article

Property investment company NewRiver Retail has completed a spate of transactions totalling £180m, including the purchase of a shopping centre in Wiltshire and a retail warehouse in Gloucester.

The company purchased Three Horseshoes Walk in Warminster from Australian-listed group Stockland for £9m. The 60,000 sq ft site is home to Poundland, Iceland, Peacocks, Superdrug, Greggs and Costa.

The park could now be set for a significant redevelopment, with NewRiver exploring opportunities to enhance its retail offering and refurbish the car park and community facilities.

The group also bought a warehouse on Eastern Avenue in Gloucester for £4.25m, which is currently let to Magnet and PC World.

Allan Lockhart, property director at NewRiver Retail said: “The summer period has been another exciting and highly active period for NewRiver.

“We are delighted to have made excellent progress in deploying our shareholders capital into low risk profile assets that will deliver attractive long-term returns.”

The company also announced the purchase of a former department store in Hull, shopping centres in Glasgow, Belfast and Hastings and disposals totalling £6.5m of properties in Norwich and North Shields.

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