{"id":17615,"date":"2017-03-27T05:00:12","date_gmt":"2017-03-27T12:00:12","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=17615"},"modified":"2020-12-24T22:10:42","modified_gmt":"2020-12-25T06:10:42","slug":"newriver-reit","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/newriver-reit\/","title":{"rendered":"NewRiver REIT"},"content":{"rendered":"

The British retail investment market joins the rest of the United Kingdom\u2019s business community in facing a host of unknowns in 2017.\u00a0\u00a0Chief among them is the timing and impact of the UK\u2019s exit from the European Union following the outcome of the referendum in June 2016.<\/p>\n

\"Emma
Emma Mackenzie, Director, NewRiver<\/figcaption><\/figure>\n

Yardi caught up with one its partners, NewRiver REIT, a specialist retail and leisure investor, asset manager and developer whose convenience-led positioning means it is uniquely placed to navigate these uncertain times. NewRiver\u2019s \u00a31.3 billion portfolio includes 33 community shopping centres, 22 retail parks, 16 high street assets and 350 pubs. The portfolio provides consumers up and down the UK with its daily essentials \u2013 those items essential to daily life, the things consumers require, opposed to what they simply desire.<\/p>\n

Fundamental to the success of the business over the past seven and half years has been how NewRiver has engaged with and satisfied all the stakeholders within its chain, from store customers, retailers, peers, advisors and local authorities all the way to its institutional investors and shareholders.<\/p>\n

\u201cAt the heart of the retail sector is the customer and our business begins with building and retaining consumer loyalty,\u201d says Emma Mackenzie, a Director at NewRiver who manages assets in Scotland, Northern Ireland and the north-east of England.<\/p>\n

\u201cAt the local level, we make sure our shopping centres satisfy the needs of the towns they serve. Its about providing a variety of products and services at a price the customer can afford. Furthermore, we work hard to ensure the environment is fit for purpose \u2013 and that includes such basic factors as the centre being clean and accessible as well as bright and attractive and providing somewhere to sit down or get a cup of tea.\u201d Brexit has triggered a period of uncertainity yet Mackenzie says \u201cbut even in times of downturn, the consumer still needs to feed, wash and clothe themselves. This is why the NewRiver portfolio, with our convenience-led focus, remains well-placed during this time. Our portfolio provides shoppers with their everyday needs and with 150 million shoppers visiting the NewRiver shopping centres, we work hard to continue to provide consumers with a convenient and quality customer experience.\u201d<\/p>\n

An integral part of NewRiver\u2019s ethos and asset management is its relationship with its partners, including its agents, architects and lawyers but especially its retail partners. Mackenzie continues, \u201cwe run our shopping centres as though we ourselves were retailers. We have over 2000 occupiers in our portfolio and we value our retail partners, striving to understand their businesses to ensure mutual success and a positive long-term relationship. Our external advisors and consultants are an equally critical part of the NewRiver team. Again, we strive to inspire and forge a team spirit with them.\u201d<\/p>\n

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