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. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

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] It was reported that the combined business was likely be included in the FTSE 100 Index with a valuation of £4 billion. [6] [7] The transaction received shareholder approval on 2 May 2024, [8] allowing it to proceed to completion. [9]

Operations

The company owns, on behalf of its lessees, a Sainsbury's distribution centre in Sherburn-in-Elmet, [10] a Tesco distribution centre near Barlborough [10] and a Marks & Spencer distribution centre in Leicestershire. [3] It also owns properties built for Next, Morrisons, Wolseley, DHL, Rolls-Royce, L'Oréal, Kuehne + Nagel, Ocado, Dunelm, Howdens Joinery and T.K. Maxx. [4] The company's portfolio was valued 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. 1 2 Howard, Tom (2024-02-12). "Warehouse owner Tritax agrees £4bn merger deal". ISSN   0140-0460 . Retrieved 2024-02-12.
  7. 1 2 "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". Morning Star. 19 May 2014. Retrieved 14 June 2015.
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