FINANCE: Assets under management at NewRiver Retail rose by 8.8% to £800m in the final quarter of 2014.
The REIT maintained a stable retail portfolio occupancy rate of 96% in the three months to 31 December 2014.
The quarter was a busy one for the firm, which lodged 24 planning applications during the period for 78,000 sq ft of new projects, and agreed 54 leases.
Total rent roll under management increased by 5% to £70.7m pa from £67.4m as at the end of September 2014.
Meanwhile this year, NewRiver has completed an equity fund raise of £75m.
David Lockhart, chief executive of NewRiver, said: “We look forward to the opportunities that 2015 presents, particularly following our most recent acquisition of a major UK shopping centre portfolio that promises exciting value-enhancing asset management and risk-controlled development opportunities.”
