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We own and manage a portfolio of resilient retail assets that provide essential goods and services to communities across the UK. These assets provide affordable and well-located space that is compatible with the increasingly omnichannel strategies of retailers.
HY26 Results as at 30 September 2025
Occupancy
Average Rent
Rent Collection
Retention Rate
Our core shopping centres are high performing assets in the hearts of their local communities which exhibit resilient retail characteristics. These are assets which are already fit for purpose with affordable rents alongside a resilient local and economic backdrop for which we believe there is a strong outlook.
HY26 Results as at 30 September 2025
Occupancy
Average Rent
Rent Collection
Retention Rate
Our top occupiers across our core shopping centres are resilient household names that focus on essential goods and services, and are well positioned to cater for the non-discretionary spend of local communities.
82% of the floor area occupied by our top 100 retailers is now covered by emissions reduction commitments
| Rank | Occupier | % of NR Core Shopping Centres Rent Roll | Total Stores | Climate Commitments |
|---|---|---|---|---|
| 1 |  Boots |
2.8% | 11 |  Net-zero by 2040 |
| 2 |  Next |
2.2% | 4 | Net-zero by 2040 |
| 3 |  M&S |
1.2% | 8 | Net-zero by 2040 |
| 4 |  TK Maxx |
1.1% | 4 | Net-zero by 2040 |
| 5 |  Superdrug |
1.1% | 9 | SBTi 1.5-degree aligned near-term target |
| 6 |  WH Smith |
1.0% | 7 | Net-zero by 2040 |
| 7 |  The Gym |
0.8% | 6 | SBTi 1.5-degree aligned targets, Net-zero by 2045 |
| 8 |  Asda |
0.8% | 3 | Net-zero by 2040 |
| 9 |  H&M |
0.7% | 6 | SBTi 1.5-degree aligned targets, Net-zero by 2040 |
| 10 |  North East London NHS Foundation Trust |
0.7% | 1 | Net-zero by 2040 |
Our retail parks are quality assets that display the resilient retail characteristics that we have identified including convenience, online compatibility, liquidity and value add opportunities. From a management perspective, retail parks are cost effective with lower ESG demands and from a consumer perspective, they offer easy, accessible and free parking.
HY26 Results as at 30 September 2025
Occupancy
Average Rent
Rent Collection
Retention Rate
82% of the floor area occupied by our top 100 retailers is now covered by emissions reduction commitments
| Rank | Occupier | % of NR Retail Parks Rent Roll | Total Stores | Climate Commitments | |
|---|---|---|---|---|---|
| 1 |  Sainsbury's |
12.0% | 3 | Net-zero by 2040 |
|
| 2 |  B&M |
9.3% | 7 | SBTi well-below 2-degree near-term target, Net-zero by 2040 | |
| 3 | TK Maxx |
6.9% | 3 | Net-zero by 2040 |
|
| 4 |  Matalan |
5.7% | 3 | Net-zero by 2040 |
|
| 5 |  Aldi |
4.5% | 2 | Net-zero by 2040 |
|
| 6 |  Iceland |
3.7% | 3 | Net-zero by 2040 |
|
| 7 |  Dunelm |
3.5% | 2 | Net-zero by 2040 |
|
| 8 |  Pets at Home |
3.0% | 4 | Net-zero by 2040 |
|
| 9 |  Currys PC World |
2.5% | 2 | Net-zero by 2040 |
|
| 10 |  Halfords |
2.4% | 4 | SBTi 1.5-degree aligned near-term target |
