Last checked at 
(Alliance News) - NewRiver REIT PLC on Tuesday said it has completed GBP29.9 million worth of disposals to date in financial 2020 and has agreed to sell a further GBP28.0 million worth of assets.
The FTSE 250-listed firm said GBP15.4 million of the sales proceeds have been invested to acquire four retail parks as part of a joint-venture with investment company Bravo Strategies III LLC.
The GBP29.9 million sales proceeds represents a net initial yield of 6.2% and is 0.9% below book value, NewRiver added.
The disposals include the sale of a food store, a petrol station, a shopping centre, seven convenience stores and five pubs. NewRiver said it has also sold three plots of surplus land.
The real estate investment trust has exchanged contracts on a further GBP28.0 million of disposals, including three retail parks and 10 pubs, at a blended net initial yield of 4.5% and 3.6% ahead of book value.
Shares in the company were 0.1% lower at 168.20 pence each in London on Tuesday morning.
