LONDON - NewRiver REIT plc has partnered with Royal Mail (LON:IDSI) to introduce a network of parcel lockers in its UK shopping centers and retail parks, marking the first collaboration of its kind for the postal service. This initiative, which began with installations in Grays and Witham, Essex, is set to expand across more than 60 NewRiver locations within six months.
The arrangement aims to offer shoppers a convenient option for parcel collection and drop-off while simultaneously increasing foot traffic and spending within the retail spaces. Royal Mail, the UK’s leading parcel delivery company, sees this partnership as an opportunity to deploy their new service rapidly and on a significant scale, utilizing NewRiver’s extensive real estate portfolio.
Allan Lockhart, CEO of NewRiver, expressed enthusiasm for the project, highlighting the alignment with their strategy of supporting omni-channel retail operators and enhancing community shopping experiences. Royal Mail’s Director of Out of Home, Anna Malley, emphasized the customer-centric approach of the lockers, which include advanced technology for ease of use and label printing.
NewRiver, a prominent Real Estate Investment Trust, owns and manages a variety of retail assets across the UK, now totaling £0.9 billion in value and covering 8.2 million square feet. This includes 28 community shopping centers and 13 retail parks, with an additional 22 shopping centers and 18 retail parks managed on behalf of third parties, bringing its total Assets Under Management to £2.5 billion.
The company, which acquired Capital & Regional in December 2024, is listed on the Main Market of the London Stock Exchange (LON:LSEG) under the ticker NRR. This partnership with Royal Mail is part of NewRiver’s broader objective to maintain a resilient retail portfolio that caters to the evolving needs of consumers and retailers alike.
This news is based on a press release statement and reflects the latest development in NewRiver’s strategy to enhance its retail properties and services.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.