NewRiver has posted a strong performance for its Q3, saying its occupational market is in the “best shape for five years”.
The £600m retail-focused REIT said occupancy across its 6.4m sq ft portfolio had reached a record level of 97.9%.
Chief executive Allan Lockhart said: “Our occupational market is, in our opinion, in its best shape for five years.”
The quarter also saw 222,900 sq ft of leasing transactions, taking the year to date to 587,000 sq ft, at 2.6% above previous rents.
Lockhart added: “The continued importance of the physical store is becoming increasingly clear to best-in-class retailers, be they omnichannel operators with a clear understanding of the role of the physical store in the fulfilment of online orders, or retailers operating right-sized store-based models.”
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