StockMarketWire.com - NewRiver REIT said it had sold an Asda foodstore and petrol filling station at St Elli Shopping Centre in Llanelli, Wales to a private investor for £17.9m.

The sale price represented a net initial yield of 6.9% and a 1% discount to the March 2019 valuation.

The transaction brought NewRiver's total disposal proceeds since 1 April 2019 to £20.9m.

It marked significant early progress against the company's strategy to recycle capital from low-yielding assets into higher-yielding opportunities in joint ventures, it added.



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