**SummaryNewRiver REIT PLC Third Quarter Company Update (January 28, 2026)**
NewRiver REIT PLC reported a strong third quarter, driven by positive leasing activity, rising occupancy, and disciplined capital recycling. Key highlights include
1. **Leasing Performance**Completed 234,500 sq ft of new lettings and renewals in Q3, securing £2.1 million in annualised income across 98 transactions. Notable deals included Boots, B&M, and H&M. Year-to-date leasing totaled 650,800 sq ft, with long-term transactions 8.2% <mark style="background-color:yellow">above</mark> ERV and 31.1% above prior rents.
2. **Operational Metrics**Occupancy increased to 96.1%, up from 95.3% in September 2025, with a high retailer retention rate of 91%. In-store customer spending remained resilient, particularly in Grocery (+6.2%) and Non-Food Discount (+7.2%).
3. **Capital Recycling**On track to complete £40 million in disposals in H2, including The Marlowes in Hemel Hempstead, Sprucefield Retail Park in Lisburn, and Cuckoo Bridge Retail Park in Dumfries, in line with book values.
4. **Regeneration Progress**Formed a joint venture with Mid Sussex District Council to regenerate The Martlets shopping centre in Burgess Hill. Signed a lease with an experiential leisure operator for 80,000 sq ft at the Capitol Centre in Cardiff, reducing the Work Out portfolio weighting to 1%.
5. **Financial Outlook**CEO Allan Lockhart expressed confidence in delivering further earnings growth and a well-covered dividend, supported by improved market conditions and a strengthened portfolio.
NewRiver’s focus on resilient retail assets, strategic disposals, and regeneration opportunities positions it for continued growth in FY27.
| Metric | Q3 2025 | Q3 2026 | Year-on-Year Change |
|---|---|---|---|
| Occupancy Rate | 95.3% | 96.1% | +0.8% |
| Retailer Retention Rate | 91% | 91% | 0% |
| Grocery Spending Growth (Christmas Quarter) | N/A | +6.2% | N/A |
| Non-Food Discount Sales Growth (Year to Dec) | N/A | +7.2% | N/A |
| F&B Sales Growth (Year to Dec) | N/A | +4.0% | N/A |
| Health & Beauty Sales Growth (Year to Dec) | N/A | +2.4% | N/A |
| Value Fashion Sales Growth (Year to Dec) | N/A | -1.1% | N/A |
| Rateable Value Change (Portfolio) | N/A | +7% | N/A |
| Rates Payable Change (Tenants) | N/A | -11% | N/A |
| Snozone EBITDA (Q3) | N/A | £2.0 million | N/A |
| Snozone EBITDA (Year to Date) | N/A | £0.4 million | N/A |
| Disposals Proceeds (H2) | N/A | £39.1 million | N/A |
| Leasing Volume (Year to Date) | N/A | 650,800 sq ft | N/A |
| Long-Term Transactions vs Prior Rent | N/A | +31.1% | N/A |