Retail group raises £200m for regional developments

Grant Prior 7 years ago
Share

High Street shopping centre group NewRiver REIT is raising £200m to fund provincial retail schemes.

New River is the UK’s third largest shopping centre owner with sites in 60 towns and cities across the UK.

The cash will be used to buy back shares in joint ventures and fund an expanded development pipeline.

The Group currently has approximately 1.9 million square feet of property in the development pipeline with potential capital expenditure in excess of £42m up to the end of 2018.

It said: “The Directors therefore continue to see a wide range of acquisition and development opportunities which meet the Group’s investment criteria, giving rise to a strong pipeline of capital deployment opportunities.”

Work in the pipeline includes up to 30 new stores for the Co-operative and an expansion of the group’s Canvey Island retail park.

Latest news

Quartet win £490m North West & Central railway works deal

Skanska, Kier, Octavius Infrastructure and Story Contracting bag major projects deal
2 hours ago

Council finds extra £33m for Buckinghamshire link road

South East Aylesbury Link Road costs soar by nearly 30% to £147m
1 hour ago

Site labour rates start rising again

Industry's biggest payroll firm says "it feels like things could be turning round"
2 hours ago

Galliford Try names new finance director

Rentokil's Kris Hampson joins contractor to replace Andrew Duxbury
3 hours ago

Hydrogen-fuelled diggers to be allowed onto highways

Government to raise barrier to widespread use of hydrogen fuelled plant in construction
18 hours ago

Council boss hits out at bat threat to £274m road job

Natural England could scupper scheme due to be built by Ferrovial
3 hours ago

Unite Students plans first major mixed-use scheme

Developer's first mixed BTR and PBSA project to be built in Edinburgh
17 hours ago

Plans in for £118m Government hub in Darlington

Work pencilled to start later this year on new home for 1,450 civil servants
18 hours ago

New contractor highlights Henry Construction jobs on website

New firm lists jobs by failed contractor to show its experience
1 day ago

Contractors line up for £2.6bn Anglian Water AMP8 deal

Eight big names land places on pioneering @one Alliance
2 days ago

McAleer & Rushe bags first major later living project

Work to start this month on 167-flat Royal Tunbridge Wells project
1 day ago

Kier starts first all-electric prison houseblock job in Kent

Next-generation fully electric T60 prison houseblock to be built at HMP Elmley
1 day ago

Keepmoat sees better times ahead in housing market

Profits dip in 2023 despite construction of record number of new homes
1 day ago

Vistry signs partnership deals for 1,900 mixed tenure homes

West Sussex former airfield and Newmarket sites to break ground
2 days ago

Turnover at Wates tops £2bn for first time

Construction division exceeds £1bn turnover as average contract value hits record high of £48.3m
2 days ago

L&G looks to sell Cala Homes in exit from house building

Insurance giant reported to be preparing to offload 3,000 homes-a-year developer
3 days ago

Multiplex profit almost trebles as margin hits 5.5%

Revenue jumps 20% to £675m as big London scheme complete
2 days ago

TopHat puts plans to open huge Corby factory on hold

Advanced manufacturing facility was due to employ 1,000 people
2 days ago

Laing O’Rourke lands Calderdale hospital job

Enabling works to start by the end of this year at West Yorkshire site
2 days ago

Go-ahead for £475m Sunderland film and TV studios

Work to start this year on first phase Corwn Work studios
2 days ago

Willmott Dixon set for £20m Stockport Community Hub

Planning decision expected in June on Marple leisure and health clinic project
2 days ago

Police hunt for blundering dumper truck thief

Raider drove into a fence before getting stuck on a bank
2 days ago

Beattie Passive files administration notice

Passivhaus pioneer has been in business for more than ten years
3 days ago

McAlpine set for £50m space and tech centre

Northumbria Uni sign pre-con deal for new satellite research hub
3 days ago

VolkerFitzpatrick seals £34m Kent road viaduct

Work to start next year on Sturry Link Road near Canterbury
3 days ago

Eight win £600m Scottish civil engineering framework

Balfour, Farrans, Graham and Morgan Sindall win major works lot
3 days ago

Site engineer crushed to death by excavator

22-year-old victim died just months after graduating from university
5 days ago

NG Bailey fined £135,000 after hospital site death

Worker died after striking overhead beam while navigating a mobile elevating work platform
5 days ago

Kier lands £30m Mansfield Connect project

Construction to start in January 2025 on town centre regeneration scheme
3 days ago

Award-winning steelwork firm files administration notice

Kelpies steelwork specialist SH Structures files court notice
6 days ago

Contractor services