Tritax Big Box £500 million Debut Senior Unsecured Notes and new £350 million Unsecured Revolving Credit FacilityRead more
21 August 2015
Tritax Big Box REIT plc (ticker: BBOX), the only real estate investment trust giving pure exposure to very large logistics warehouse assets (“Big Boxes”) in the UK, is today reporting its interim results for the Group for the six months ended 30 June 2015.
Post Balance Sheet highlights
Richard Jewson, Chairman of Tritax Big Box REIT plc, commented:
“Our investment manager continues to identify and negotiate good opportunities to buy assets and create capital value enhancement for our shareholders, both at the point of purchase and through a variety of asset management initiatives. We will continue to build an increasingly diversified and high quality portfolio, as we deploy the equity and debt financing raised during the period.
We see the potential for further yield compression in our sub-sector and logistics more generally, especially when viewed against current gilt yields. Big Boxes are becoming increasingly central to retail fulfilment, suggesting that yields have the potential to move towards the levels historically applied to prime retail assets.
The profile of rent reviews across the portfolio means we are well placed to capture rental growth in the market. We believe that the balance of occupational supply and demand should remain favourable for landlords, leading the Group to continue to be confident of strong rental growth in the near term. The outlook for the remainder of 2015 remains strong and the Company anticipates achieving the dividend target of 6.0 pence per share for the full year.”
For further information, please contact:
Colin Godfrey (Partner, Fund Manager) via Newgate (below)
Newgate Communications (Financial PR)
Tel: 020 7680 6550
Meeting for investors and analysts and audio recording of results available
A meeting for investors and analysts will be held at 9.30am today at:
Sky Light City Tower
50 Basinghall Street
London, EC2V 5DE
In addition, later in the day an audio recording of this meeting and the presentation will also be available to download from the Company’s website: www.tritaxbigbox.co.uk
Tritax Big Box REIT plc is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies (“REIT”). The Company invests in a portfolio of well-located, modern “Big Box” assets, typically greater than 500,000 sq. ft., let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews (giving inflation linked earnings growth), and with geographic and tenant diversification throughout the UK. The Company seeks to exploit the significant opportunity in this sub-sector of the UK logistics market owing to strong tenant demand in high growth areas of the economy and limited stock supply. The Company is the first listed vehicle to give pure exposure to the “Big Box” asset class in the UK.
Further information on Tritax Big Box REIT is available at www.tritaxbigboxreitplc.co.uk