Tritax Big Box REIT

Last updated
Tritax Big Box REIT
Company type Public limited company
Industry Property investment
Founded2013;12 years ago (2013)
Headquarters
Duke Street, St James's, London
,
United Kingdom
Key people
Richard Jewson (Chairman)
RevenueIncrease2.svg £276.0 million (2024) [1]
Increase2.svg £514.6 million (2024) [1]
Increase2.svg £445.5 million (2024) [1]
Website tritaxbigbox.co.uk

Tritax Big Box REIT is a British real estate investment trust (REIT) investing in "Big Box" distribution centres.

Contents

History

The company is managed by Tritax, a property management business, formed in 1995. [2] It was the subject of an initial public offering raising £200 million in November 2013. [3] It raised a further £150 million in July 2014, a further £110 million in November 2014 and a further £175 million in March 2015 as well as a £500 million lending facility. [4] Addition funds were raised through placings in February 2016 and in September 2016. [5]

In February 2024, the company announced it had reached a merger agreement with UK Commercial Property REIT. [6] [7] The transaction received shareholder approval on 2 May 2024, [8] allowing it to proceed to completion. [9]

Operations

The company owns a distribution centre in Sherburn-in-Elmet leased to Sainsbury's, [10] a distribution centre near Barlborough leased to Tesco [10] and a Marks & Spencer distribution centre in Leicestershire. [3] It also owns properties leased to Next plc, Morrisons, DHL Express, Rolls-Royce, L'Oréal, Kuehne + Nagel, Ocado, Dunelm Group, Howdens Joinery and T.K. Maxx. [4] The company valued its portfolio at £4.8 billion as at 31 December 2023. [1]

References

  1. 1 2 3 4 "Annual Results 2024" (PDF). Tritax Big Box REIT. Retrieved 28 February 2025.
  2. ↑ "Newgate Communications advising on IPO of Tritax Big Box REIT". Newgate Communications. 12 November 2013. Retrieved 14 June 2015.
  3. 1 2 "Tritax targets big returns". Shares Magazine. 12 November 2013. Retrieved 14 June 2015.
  4. 1 2 "Trust Insider: the £1bn appeal of Tritax Big Box Reit". 3 November 2015. Retrieved 24 April 2017.
  5. ↑ "Tritax to raise £150m". Investos Chronicle. 28 September 2016. Retrieved 24 April 2017.
  6. ↑ Howard, Tom (2024-02-12). "Warehouse owner Tritax agrees £4bn merger deal". The Times . ISSN   0140-0460 . Retrieved 2024-02-12.
  7. ↑ Oliver, Joshua (12 February 2024). "Tritax Big Box and UKCM agree £900mn takeover deal". www.ft.com. Retrieved 2024-02-12.
  8. ↑ "Tritax Big Box REIT and UKCM merger wins shareholder approval". Property Week. Retrieved 15 May 2024.
  9. ↑ "Tritax Big Box REIT (UK): Merger with UK Commercial Property REIT Limited (UK) - Update: Changes in FTSE UK Index Series". 13 May 2024. Retrieved 15 May 2024.
  10. 1 2 "Tritax Big Box REIT Says On Course For Steady Income Growth". Morningstar, Inc. 19 May 2014.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.