The chief executive of NewRiver has claimed he is positive about the challenges facing the high street despite the real estate investment trust being hit by falling property values.
Allan Lockhart, who took the helm earlier this year after his father’s ill health led him to step down, said the company had near “zero exposure” to department stores and casual dining, which have both felt the impact of online retail and competitive pricing.
The FTSE 250 company, which has a market cap of £693m, specialises in convenience stores, pubs and discounters. It counts B&M Bargains, Wilkinson, Aldi, Lidl and Iceland as tenants.
