Retail portfolio operational update

NewRiver REIT plc

("NewRiver" or the "Company")

Retail portfolio operational update

NewRiver is today providing a further operational update for its retail portfolio, which mainly comprises community shopping centres and retail parks.

NewRiver's retail portfolio is focused on occupiers in the food & grocery, health & beauty, discounter and essential services sub-sectors, with almost two-thirds of our retail assets anchored by a major food and grocery brand. As a result, 36% of our retail occupiers by gross income are currently still trading, following a UK Government order on 23 March 2020 that all non-essential retail premises must close.  

As at close of business on 30 March 2020, NewRiver had received 60% of quarterly retail rents relating to the first quarter of the financial year ending 31 March 2021. This comprised quarterly rents due on 25 March 2020 for our assets in England, Wales, and most of our tenancies in Scotland, and, for the remainder, quarterly rents due on 28 February 2020. In total, these quarterly rents represented 77% of NewRiver's retail rent due, with the remainder being monthly rents, for which the next collection date is 1 April 2020. The Company continues to work constructively with occupiers who have yet to pay, to either recover late payments or agree alternative payment solutions, including deferment and transition to monthly payments.

It is too early to assess the overall impact of Coronavirus (COVID-19) on the business, and therefore NewRiver is suspending all previous guidance on forecasts that it has provided. Given the fast-changing situation, the Company will provide the market with further updates in due course.

For further information

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation. This announcement has been authorised for release by the Board of Directors.

About NewRiver

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK.

Our £1.3 billion portfolio covers 9 million sq ft and comprises 33 community shopping centres, 25 conveniently located retail parks and over 700 community pubs. Having hand-picked our assets since NewRiver was founded in 2009, we have deliberately focused on the fastest growing and most sustainable sub-sectors of the UK retail market, with grocery, convenience stores, value clothing, health & beauty and discounters forming the core of our retail portfolio. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders over the longer term, while our active approach to asset management and in-built 2.3 million sq ft development pipeline provide further opportunities to extract value from our portfolio.

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR). Visit www.nrr.co.uk for further information.

LEI Number: 2138004GX1VAUMH66L31