Share Name Share Symbol Market Type Share ISIN Share Description
Tritax Big Box REIT LSE:BBOX London Ordinary Share GB00BG49KP99 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -0.68% 146.00p 145.90p 146.10p 147.50p 146.00p 147.50p 2,018,101 16:29:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 74.7 91.9 10.5 13.9 1,990.85

Tritax Big Box Share Discussion Threads

Showing 726 to 750 of 750 messages
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The Aviva REIT looks interesting, but won't have many big boxes in its portfolio. In a presentation to brokers last week they mentioned four assets for their initial portfolio: a hotel, a GP Surgery, an office and a Supermarket. I can't comment on the SA issue. But I agree raising new funds will get harder - only so much money can go into the wider sector, and a lot of issues have been undersubscribed. personally, I wonder if it's getting a bit frothy out there!
With upcoming launches from Standard Aberdeen and Aviva I think they might struggle with another issue this year. The natural progression would have been to move into Europe but it looks like Standard Aberdeen have that covered off from what I see. Would be interested in views on these new launches? CT
That appears to take expenditure since the last share issue to more than £450m. Another issue cannot be far away.
They're pretty busy on the acquisition front, but an unusual feature of the latest (Harlow, £44.4m) is that there's no statement of the net initial yield. Was it just carelessness on their part, or might there be a suggestion theat top dollar was paid?
cheshire man
Dave - I picked it up last month and thumbed down for myself: 20 Sep '17 - 11:50 - 725 of 739 0 0 Edit Warehouse REIT [WHR} says it successfully raised the amount wanted (£150m gross) meaning 150m shares at 100p. Yet today 166m shares were issued for trading. Uh? Did anyone here look at this company? I must admit I didn't and there's no thread. Intend paying 5.5p. EDIT: OK, it's in the prospectus - 16m consideration shares for purchase of seed portfolio. Nice work if you can get it, and rather puts me off! EDIT: search the prospectus for the words Tilstone and, separately, consideration.
Has anybody considered Warehouse REIT (WHR) ? It seems to have started trading with no fanfare at all. There is no thread for it on ADVFN and all I can find is that it got a mention on citywire and Woodford has a holding (Is that like saying IC says buy !!!)
This will be an early test of whether the fact that the client's past investment in capital equipment within the big Box will create opportunities for Tritax to negotiate strong rental and renewal terms or could this be a cheap way out for the retailers.
ACQUISITION OF TWO MODERN LOGISTICS FACILITIES AT PROLOGIS PARK, STOKE-ON-TRENT, STAFFORDSHIRE The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has completed contracts with ProLogis European Finance XI Sarl to acquire two modern Big Box logistics facilities at Prologis Park, Stoke-on-Trent, Staffordshire, let to Marks and Spencer plc ("M&S"), one of the UK's leading multichannel retailers, and Dunelm (Soft Furnishings) Ltd ("Dunelm"), the UK's number one homewares retailer. The combined net purchase price is £78.5 million and will be funded from equity. Stoke-on-Trent has attracted major distribution occupiers including Asda, JCB, Michelin, New Look, Sainsbury's and TK Maxx. This core logistics location has excellent connectivity to the M6 motorway for access to Birmingham and Manchester city airports and the Port of Liverpool. Marks and Spencer plc National Distribution Centre Built to a high specification in 2008, this National Distribution Centre is let to Marks and Spencer plc, the main subsidiary of FTSE100 constituent Marks and Spencer Group plc, one of the UK's leading multichannel retailers. The net purchase price reflected a net initial yield of 5.43% on the corporate acquisition. The facility is one of M&S's five National Distribution Centres for general merchandise and onward fulfilment to Regional Distribution Centres. The property, which has benefited from significant capital investment from the occupier, has an eaves height of c.12 metres, a gross internal floor area of 382,594 sq ft with a site cover of approximately 57%. The property has been acquired with an unexpired lease term of approximately 8.5 years and has a lease break or rent review in c.3.5 years. The lease is subject to five yearly upward only open market rent reviews. The passing rent reflects £5.24 per sq ft. Dunelm (Soft Furnishings) Ltd National Distribution Facility The modern and versatile facility comprises two interconnected buildings with a gross internal floor area totalling approximately 503,389 sq ft, which are let to Dunelm (Soft Furnishings) Ltd, the UK's number one homewares retailer. The net purchase price reflected a net initial yield of 5.38% on the corporate acquisition. These two sortation and distribution facilities, built to a high specification in 2004 and 2010 respectively, are interlinked and work in conjunction with the Company's new Dunelm National Distribution Centre located in nearby Sideway, Stoke-on-Trent, which was forward funded by the Company in June 2015, and together form Dunelm's dedicated national distribution hub. The properties have all benefited from significant capital investment by the occupier. Each building has an eaves height of c.12 metres, good parking and a site cover of approximately 56%. The properties are being acquired with two coterminous leases, each with an unexpired lease term of approximately three years. There are no further rent reviews. The passing rent reflects c. £4.56 per sq ft which is highly reversionary against current market rents in this location. Colin Godfrey, Partner of Tritax, commented: "We are very pleased to have acquired these modern and adjacent Big Box distribution facilities, situated in an established core logistics location with two high quality tenant covenants in M&S and Dunelm. They build on our strong working relationship with both retailers. These Value Add investments provide opportunity for rental growth and the short unexpired lease terms offer potential for capital value enhancement from either lease renewal or reletting. Value Add assets now constitute 17% of our portfolio by value."
Apologies this is not directly BBOX related, but I see there is yet another warehouse REIT being launched, this time from M7 Real Estate - This is very much small boxes, but at first glance looks more promising than some of the other launches. M7 seem like an experienced outfit with an established track record, having invested alongside or on behalf of some top names such as Blackstone and M&G.
Sleepy, I've led a nomadic life living and working in 17 countries. Uganda is one of my favourites having had sessions there in the 70's, 90's and 2009-12.
DIVIDEND DECLARATION The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 July to 30 September 2017 of 1.60 pence per ordinary share, payable on or around 16 November 2017 to shareholders on the register on 20 October 2017. The ex-dividend date will be 19 October 2017. This dividend will be a Property Income Distribution ("PID"). The Company is targeting an aggregate dividend of 6.40 pence per ordinary share for the year ending 31 December 20171, payable quarterly. Dividends are expected to be fully covered by Adjusted Earnings from the Company's portfolio of properties.
ugandalad - may I ask the origin of your name?
As a shareholder of both and a long term fan of the Hansteen (Ashtenne) management team. The two companies operate with very different business plans. Hansreen is an opportunist property manager looking for undervalued sites that are either not fully let or developed that can be re configured to improve yield and value. It then sells on to long term holders realising capital gains. Tritax buys or builds single occupancy Big Boxes on long tenancy agreements where the renter has substantial investment in the infrastructure of the building. Hansteen has numerous competitors looking for similar opportunities in a market where opportunities are shrinking. Tritax is operating in a field of expanding demand but has largely done deals at 5% yield looking to rental uplifts through the contract to improve returns. It is still growing but one day will become mature. Hansteen has cashed out of Europe at a time of week sterling and is using this as an opportunity to half its size reducing costs of dividends.I expect both to continue to grow but both will be impacted if or when interest rates rise. I'm following the Hansteen Board and accepting the tender offer but expect the deal makers in Hansteen to outperform going forward.
Comparison between Hansteen and Tritax: Http:// Top of the market?
Any reason for today's rise?
Like Jaffa cake packets the big boxes purchased seem to be getting smaller. 272,000 sq ft must be one of the smallest. Yield of 5.0% and unexpired lease term of 6 years does not sound that great to me, but a site cover of 18% does leave scope for future development.
Acquisition ACQUISITION OF THE ROYAL MAIL DISTRIBUTION FACILITY AT DANES WAY, DAVENTRY INTERNATIONAL RAIL FREIGHT TERMINAL, NORTHAMPTONSHIRE FOR £48.82 MILLION The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts to acquire a National Distribution Centre at Danes Way, Daventry International Rail Freight Terminal ("DIRFT"), Northamptonshire let to Royal Mail Group Limited ("Royal Mail"), the main subsidiary of Royal Mail plc, one of the UK's leading postal and delivery companies and the UK's designated universal postal service provider. The total consideration is £48.82 million (excluding purchaser's costs), reflecting a net initial yield of 5.0%. The purchase is being funded from equity. Purpose-built in 2003, this modern, high specification parcel delivery hub with a 24/7 on site operation provides a centrally located and adaptable National Distribution Centre to all Royal Mail parcel hubs across the UK. The cross-docked property has a gross internal area of 272,603 sq ft, an eaves height of between 6 and 13 metres, 360-degree circulation and an extensive service yard area, providing an exceptionally low site cover of c.18%. The investment has been acquired with an unexpired lease term of approximately 6 years, subject to annual upward only rent reviews indexed to the Retail Price Index capped at 3%. The next rent review is due in August 2018. Situated within the 'Golden Triangle' of logistics, in a prime location, the property has excellent road, airport and rail connectivity. DIRFT is a rail-road intermodal freight terminal with associated logistics in Northamptonshire. DIRFT is located at the intersection of junction 18 of the M1 motorway, the A5 and A428 roads being 4 miles east of Rugby and 6 miles north of Daventry; it has a rail connection from the Northampton loop of the West Coast Main Line to other National and European Rail Freight Terminals. As an established core logistics location, it has attracted a significant number of major occupiers, including DHL, Eddie Stobart Logistics, Sainsbury's and Tesco. The Company recently acquired the Royal Mail's RDC for the Midlands at Atherstone. DTRE represented the Company on the acquisition. Colin Godfrey, Partner of Tritax, commented: "We are very pleased to have acquired our second Distribution Centre let to Royal Mail, which with annual upward rent reviews linked to RPI offers the potential for strong and frequent rental growth. The modern, high specification facility, which is situated in an established core logistics location, also has the potential for future value enhancement."
I think we could see some rotation out of infrastructure funds (due to the political risks) into property REITS offering similar yields, of which BBOX is one of the highest quality. I can't see Labour confiscating big distribution centres. I am happy to add to my holding at these levels.
Bbox now looking a good buy after recent dip, currently at 140 which is around 5% premium, typically trades at double digit premium. Solid 4.5% dividend.
Warehouse REIT [WHR} says it successfully raised the amount wanted (£150m gross) meaning 150m shares at 100p. Yet today 166m shares were issued for trading. Uh? Did anyone here look at this company? I must admit I didn't and there's no thread. Intend paying 5.5p. EDIT: OK, it's in the prospectus - 16m consideration shares for purchase of seed portfolio. Nice work if you can get it, and rather puts me off!
New acquisition announced today, see Located in Atherstone, 21 miles north-east of Birmingham, the facility is situated within the 'Golden Triangle' of logistics. Apparently!
Hi speedsgh, you might be right - I have no idea on timing. Another 3 months is soon in my book but appreciate that isn't the same for everyone. I wasn't trying to predict the exact timing, just saying we know there will almost certainly be one at some point. I still hold quite a few here but sold some at 149 to go into other industrial holdings. My holding here is useful, pays a nice income and price doesn't really change much. As you say lovely for the income part of a portfolio. If you can trade a little around the edges why not : )
But don't forget that in the real world there are no boxes available at all at the bigger end of the scale That in itself supports the market no matter how many new players try and jump in to capture a piece of the pie
joe say
jonwig - Concur with your sentiments. Big box has been the stand-out sector in the commercial property arena for some time. That of course won't last forever; I have seen several interviews (including with BBOX execs) in which they have guided towards most future gains being driven by rental growth as opposed to yield compression. The sector feels like it is beginning to get a bit crowded and I am inclined to take its current star status as an early warning signal. Have built a fairly decent sized holding over the past 18 months as a long term holding for income. So like yourself, going forward I am likely to roll with what I've got & at most take up minimum entitlement under future fundraisings, assuming that they aren't made available to IIs only. BBOX is at least a holdng that doesn't keep me awake at night!
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