NewRiver REIT reports modest drops

NewRiver REIT has reported a 3.3% decline in valuation to £1.26bn in the six months ended 30 September. The portfolio is 70% weighted to shopping centres and retail parks, but declines were markedly less than others in the industry. NewRiver REIT’s shopping centres, which make up 55% of the portfolio fell by 5% to £692m. The drops were focused on its regional shopping centres, which fell 5.9% to £538m. In London, the portfolio was more resilient, down by just 1.7% to £154m. Retail parks fell 4.4% to £188m. Valuation was boosted by growth in pubs, up 0.3% to £282m and