Landlord NewRiver reports footfall growth across retail estate

·1 min read
Dominic Lipinski/PA
Dominic Lipinski/PA

Landlord NewRiver has updated on how footfall across its retail estate has jumped since the Covid-19 lockdown eased further.

The company, which owns shopping centres and retail parks, was among landlords that saw scores of tenants shut for the Covid-19 lockdown in March. Only certain ‘essential’ occupiers could remain open, such as supermarkets and pharmacies.

NewRiver today said in the week starting August 3, footfall was 132% higher than the week commencing June 8, the last week before non-essential stores were allowed to reopen.

However, the figures from last week are still 32% below the same period last year. The firm said this year-on-year performance is a 7% outperformance of the UK benchmark.

NewRiver, led by Allan Lockhart, said across its retail portfolio, 93% of occupiers by gross income are now open. Other sites are expected reopen in the coming weeks.

It added that it has limited exposure to some of the retail sectors that have been particularly impacted by Covid-19, with no department stores in its portfolio.

Across its pub properties, over 90% are are now trading again after operators got the green light to reopen from July 4.

The firm said that of the total second quarter rent it was due, so far 80% has either been collected or had alternative payment terms agreed with occupiers.

The trading performance in the first quarter to June 30 was in-line with NewRiver's revised expectations outlined in June.

Read more

Just 13.8% of retail rents collected on quarter day

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting