NewRiver REIT Q3 Earnings Call Highlights

Core Insights - NewRiver REIT reported strong operational performance driven by rising demand in core markets, leading to increased leasing activity and occupancy across its portfolio [1] Consumer Spending Trends and Category Performance - Total in-store customer spending for the key Christmas quarter was consistent with the previous year, with the same trend observed for the year ending December 2025 [2] - Grocery, the largest spending segment, saw a year-over-year increase of 6.2%, while non-food discount increased by 7.2%, food and beverage by 4%, and health and beauty by 2.4%. However, value fashion experienced a decline of 1.1% [5] Business Rates Outlook and Tenant Affordability - NewRiver anticipates a 7% increase in rateable values across its portfolio effective April 1, 2026, but expects this to be offset by a new discount for retail, hospitality, and leisure properties [3] - The company projects an 11% reduction in rates payable for tenants, which is seen as supportive for tenant affordability [3] Capital Recycling and Disposals - The company is focused on disciplined capital recycling to enhance portfolio quality and strengthen its financial position [4] - NewRiver completed two disposals, generating total proceeds of GBP 12.6 million, including a retail park in Northern Ireland and a shopping center in Hemel Hempstead [4] - Additionally, the company exchanged contracts in January for the sale of another retail park in Dumfries for GBP 26.5 million, following the completion of a value-enhancing business plan [6]