Risk-controlled development

One of the key ways in which we generate income and capital growth is through our risk-controlled development pipeline. Our in-house development team works with stakeholders to obtain valuable planning consents, which we can develop ourselves or sell to crystallise a profit. Our risk-controlled approach means that we will not commit to developments without securing significant pre-lets or pre-sales.

Current developments

Burgess Hill

In Burgess Hill, we are working closely with Mid Sussex District Council to regenerate The Martlets shopping centre, providing a modern and vibrant retail and leisure offer, as well as much-needed new homes.

The 465,000 sq ft scheme will have a reduced retail footprint compared to the current site, 172 residential units, a Travelodge hotel, a 10-screen Cineworld cinema and bowling alley, as well as a new purpose-built public library in the heart of the scheme.
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Grays

We acquired Grays Shopping Centre in June 2018, as we recognised a significant value-creating opportunity for redevelopment at the site, which is located just 35 minutes from Central London by train.

Working closely with Thurrock Borough Council, we are bringing forward a redevelopment plan that will reduce and repurpose existing excess retail floorspace, increase public open areas and facilitate an improved pedestrian flow through Grays town centre, as well as creating much needed new homes in the heart of the town centre.

Find out more about Future Grays

Completed developments

Old Site

New Development

Romford

Planning consent was granted for the conversion of the upper floors of this town centre department store into an 85 bedroom Premier Inn hotel.

In order to ensure a fully risk-controlled development, all the agreements for a new Headlease with Havering Council with associated Works Agreement, the building contract and a forward sale/ forward fund agreement with an investment fund were all completed on the same day.

Construction then started on site in March 2020, just before Lockdown started!

The project completed in November 2021 with a smooth handover to the hotel operator.

During the entirety of the construction programme NewRiver worked with the contractor to ensure the retailer on the ground floor remained open and trading.

Planning consent was granted for the conversion of the upper floors of this town centre department store into an 85 bedroom Premier Inn hotel.

Construction then started on site in March 2020, just before Lockdown started!

The project completed in November 2021 with a smooth handover to the hotel operator.

During the entirety of the construction programme NewRiver worked with the contractor to ensure the retailer on the ground floor remained open and trading.

C-store development programme

We have an agreement with the Co-op to deliver up to 40 convenience stores ('c-stores') primarily on surplus pub land. We delivered our 25th c-store to the Co-op in the year ending 31 March 2019.
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Canvey Island Retail Park

In November 2018 we completed our 62,000 sq ft retail park development in Canvey Island, Essex, on a site which we acquired in July 2015 as part of the Ramsay portfolio.

The park was 75% pre-let at completion and has a retailer line-up comprising M&S Foodhall, Sports Direct, B&M and Costa.
Find out more

Wallsend

In 2017 we completed our redevelopment of The Forum shopping centre in Wallsend, North Tyneside, working closely with North Tyneside Council.

We delivered a Customer First Centre and Library for the council, as well as 50,000 sq ft of retail space, a 17,000 sq ft store for Aldi, a 1,500 sq ft drive-thru pod and a 214-space car park adjacent to the centre.