LONDON (Alliance News) - NewRiver REIT PLC on Tuesday said it sold an Asda foodstore and petrol filling station in Llanelli, Wales, to a private investor for GBP17.9 million.
The real estate investment trust said that the disposal represents a net initial yield of 6.9% and a 1% discount to March 2019 valuation.
Chief Executive Officer Allan Lockhart said: "We are delighted to have completed this transaction, demonstrating significant progress against our target to recycle 5% of our portfolio this financial year."
NewRiver REIT shares were trading 4.9% lower at 194.98 pence each early Tuesday morning.
NewRiver (NRR)