Tritax Big Box Reit Share Discussion Threads

[n0rbie] 23/12/2016 09:15

They're doing really well. When can we give them more money through another placing?!

[skinny] 23/12/2016 09:00

FORWARD FUNDED INVESTMENT IN TWO NEW DISTRIBUTION FACILITIES AT WARTH PARK, RAUNDS, NORTHAMPTONSHIRE
PRE-LET TO HOWDEN JOINERY GROUP PLC

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts (conditional on receiving planning consent) to provide forward funding for the development of two new distribution warehouse facilities at Warth Park, Raunds, pre-let in their entirety under two separate leases to Howdens Joinery Group Plc ("Howdens"), the parent group of the leading supplier of kitchens in the UK. The investment price is £101.8 million, reflecting a net initial yield of 5.1% (net of land acquisition costs). Upon practical completion of the construction, targeted for August 2018, both properties will be leased to Howdens on two new 30 year leases, subject to five yearly upward only open market rent reviews.

Warth Park, at Raunds, Northamptonshire is strategically located on the A45 corridor close to J13 of the A14, which provides access to the ports of Felixstowe and Harwich and also directly links to the A1(M) dual carriageway and the M1 motorway. The site is currently host to two logistics facilities recently acquired by the Company let to Whirlpool and Howdens; other notable nearby distribution facility occupiers include Homebase, Morrisons and Primark at Wellingborough, Northampton and Thrapston respectively.

The two distribution facilities, which will stand adjacent to one another and to the Company's existing Howdens facility, are under separate freehold titles and will be completed to a high specification with gross internal floor areas of 657,000 sq ft and 300,000 sq ft., respectively. Both buildings will have an eaves height of 15 metres, extensive offices and a combined site cover of approximately 53%.

The development will be undertaken by Roxhill which successfully delivered the previous Howdens facility on time and on budget. The land purchase will be funded by the Company from equity proceeds, with senior debt finance to be introduced in the near term.

Colin Godfrey, Partner of Tritax, commented:
"We are pleased to be working with Roxhill again and investing in the second phase of Howdens' new distribution centre, following the successful completion of the first phase which the Company also forward funded in September 2015. Once completed, these three facilities will provide Howdens with a 'centre of excellence' for its supply chain operations which is expected to deliver very significant operational and efficiency benefits.

"This investment is in an established logistics location with a strong covenant and extends the weighted average unexpired lease term of the Company's portfolio to c.16 years. This represents our ninth and tenth pre-let forward funded development and brings our total portfolio to 37 assets."

[killing_time] 23/12/2016 08:28

RNS out. Another two warehouses added to the portfolio.

[uncle john] 20/12/2016 07:38

davegk, Thanks for the article.

[rathlindri] 13/12/2016 17:52

Slow bit steady recovery. Good

[yorkie123] 10/12/2016 18:02

"The UK needs to build a shed load more warehouses. The rapid expansion of online retailers is expected to lead to a shortage of warehouses. The UK needs more than 18m square feet of new warehouse space a year, yet only 3.5m square feet will be built."

Taken from City AM news. Augurs well for the future.

[cyfran101] 09/12/2016 00:59

Tempus tipped too!

[tyranosaurus] 08/12/2016 12:54

I was wondering how long it would take them to spend the money they raised.
This deal sounds quite good.

[rathlindri] 08/12/2016 11:30

About time too and very welcome..

[0rient] 08/12/2016 11:12

OMG..an up day!! It's been a while :-)

140p by xmas ;-) haha

[cheshire man] 08/12/2016 09:03

Continuing to build I see :-)

[tudes100] 25/11/2016 04:26

From the TRY report yesterday
Distribution and Industrial
These sectors have been the most robust over the last six months. IPD's South East industrial recorded a fall of just -0.7% in capital values in the six months under review whilst UK Shopping Centres collectively recorded a fall of -6% in the same period. We believe the sector will continue to outperform. The trend to online retailing is set to continue and the evolution in the distribution infrastructure has seen a surge in demand for smaller buildings (less than 100,000 sq ft) in urban areas to enable faster 'last mile' delivery. Our unit let to Yodel in Bristol, is a typical example. Larger units (+250,000 sq ft) have generally been pre-let or design/build and hence there is little speculative supply available to absorb new demand. Colliers report in their H1 2016 Snapshot that in the entire Midlands market, pre-let accounts for over 50% of take-up in the first half of 2016. Amazon continue to have a voracious appetite for space and rising rents for prime distribution have been observed in Greater London, West Midlands, Leeds and Manchester.

[tyranosaurus] 15/11/2016 13:47

Now 129.9 to buy.
Holding off buying more until the price stops going down, whenever that will be.

[anley] 14/11/2016 17:31

No its the squeeze which I told this BB about a week back..........see my recent posts.

If interest rates are to start rising in 2017 then the yield on this stock will rise as well.

[0rient] 14/11/2016 16:24

Dissapointing seeing this go below the recent offer price...agree with Alcimedes about income stocks being sold across the board. Hoping you would class Tritax Big Box as income/growth combined!?

[cheshire man] 11/11/2016 09:22

Short sighted IMV

[alcimedes] 10/11/2016 18:33

Income stocks being sold across the board as the Trump victory heralds a new dawn for growth stocks.

[tyranosaurus] 10/11/2016 18:27

I don`t know but I bought more at under the £1.32 offer price.

[rathlindri] 10/11/2016 16:33

What happened here today??

[anley] 01/11/2016 16:08

Good because this is a long term investment unless one day someone comes with a bid.............look at some of my old posts on this topic.

In the meantime there are still lots of short term punters in this stock so what are they going to do..........?

[alcimedes] 01/11/2016 15:52

I love the conspiracy theories. As a new investor in BBOX I am taking a 5 year view on this one and care not for minor fluctuations. I don't expect sudden moves either way.

[tyranosaurus] 01/11/2016 15:50

I will buy more if it falls to 132p so I am not worried.

[wingrove4] 01/11/2016 14:10

I agree some small private investors will have bought hoping to make a quick profit but the price is being manipulated to force these small investors shares onto the market, I wouldn't be surprised to see this drop below the 132p before recovering, this sort of thing should be investigated, I have no proof but have seen this happen before with other stocks