In this week's episode Nick talks to Allan Lockhart

Allan Lockhart is the CEO of NewRiver REIT plc and has over 35 years of experience in the UK retail real estate sector. He began his career with Strutt & Parker in 1988, advising leading property companies and institutions on retail leasing, investment, and development. In 2002, he joined Halladale Plc as Retail Director, where he focused on identifying value-add opportunities within the UK retail market and delivering effective asset management strategies. Following Halladale’s successful sale in early 2007, Allan co-founded NewRiver, serving as Property Director from its IPO before being appointed Chief Executive Officer in May 2018.

Nick and Allan’s discussion focuses on the transformation of UK retail real estate and the future of the sector. Allan Lockhart, CEO of NewRiver REIT, reflects on his unconventional career path from insurance broking to property investment and how shifts in technology, e-commerce, and consumer behaviour have reshaped retail spaces. He explains the evolution from long-term leases to a more operationally driven market and champions omnichannel retailing — where physical stores complement online sales as critical “last-mile” distribution points. He highlights the enduring strength of convenience-led retail, retail parks, and grocery-anchored assets as consumers prioritize accessibility and efficiency.

The conversation then widens into economic and policy themes. Allan emphasizes the resilience of UK consumers amid inflation and high interest rates, buoyed by strong employment and elevated savings. He calls for decisive government fiscal reform to reduce debt and stimulate investment, particularly through business rate and stamp duty reforms that could unlock real estate growth. Looking ahead, he envisions NewRiver doubling in size through strategic acquisitions and data-driven decision-making, with AI and predictive analytics central to this growth.

Allan's Book Choices were:
The Outsiders : Eight Unconventional CEOs and Their Radically Rational Blueprint for Success by William N. Thorndike
The Fourth Turning Is Here by Neil Howe

Allan's Music Choice:
Sex Pistols -Anarchy in the UK

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