Tritax Big Box Reit Share Discussion Threads

[daveofdevon] 19/12/2014 16:38

Ditto, but at Hargreaves Lansdown they get the tax back for me without me doing anything. Last time it took about 8 weeks

[wirralowl] 19/12/2014 15:11

Received my 1.5p dividend yesterday from selftrade, but noticed they had applied a 20% tax reduction presumably due to the shares PID/REIT status. I wasn't expecting this, particularly as my shares are all held in an ISA. Does anyone have any experience of this? Do I have to claim the tax back, or will Selftrade do this on my behalf? TIA.

[skinny] 08/12/2014 07:17

ACQUISITION OF TWO DISTRIBUTION CENTRES FOR A COMBINED TOTAL OF £55.1 MILLION,
LOCATED IN DOVE VALLEY PARK, DERBY AND TRAFFORD PARK, MANCHESTER

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts to acquire two distribution centres located in Dove Valley Park, Derby and Trafford Park, Manchester for a combined purchase price of £55.1 million (net of acquisition costs). The two purchases represent a blended net initial yield of 6.53%, assuming 5.8% purchase costs. Completion of both purchases is expected to take place by 12 December 2014.

more..



Further to the acquisition of the distribution warehouse in Melmerby, near Ripon, North Yorkshire let to Wolseley UK announced on 1 September 2014, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has signed an agreement with Santander UK plc to provide £5.5 million of senior debt financing secured on the asset. This reflects a loan to value ratio of approximately 43.4%.

The debt financing for the distribution warehouse is for a term of five years. The blended margin payable across the Company's financings to date is approximately 1.76% above three month LIBOR. Following drawdown of the loan, the Group's aggregate borrowings will be 34.0% of the Group's gross assets.

[wirralowl] 02/12/2014 16:27

Taken advantage of the dip due to the placing to add at just under 106p earlier today, so not too far off the price the institutions got..

[skinny] 28/11/2014 07:04

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts on the Tesco distribution warehouse in Touchet Hall Road, Middleton, Manchester for £22.45 million (net of acquisition costs), reflecting a net initial yield of 8.25%, assuming 5.8% standard costs of purchase. Completion is expected to take place on 2 December 2014. The purchase, which was off-market, has been funded out of equity proceeds.

The distribution warehouse is situated on Stakehill, an established 200 acre industrial estate providing 2.5 million sq ft of logistics space and employing 2,500 people, just to the east of Junction 20 of the M62. Manchester is approximately 8 miles to the east, and Liverpool 42 miles to the west. The industrial estate is home to a critical mass of occupiers including Sainsbury, Aldi, Booker and several third party logistics operators such as Bibby, Yodel and NFT Distribution.

The facility provides a rentalised area totalling 301,479 sq ft with a very low site cover of 31%. The unit was constructed in 1988 and has an eaves height of approximately 12 metres. The property, which is currently unoccupied, is leased to Tesco Stores Limited, for an unexpired term of approximately 9.2 years, with two further rent reviews in December 2017 and 2022.




The Board of Directors of Tritax Big Box REIT plc (the "Company") is pleased to announce that the placing of new ordinary shares announced on 20 November 2014 (the "Placing") has raised its maximum targeted gross proceeds of £110 million and was oversubscribed.

A total of 104,761,904 new ordinary shares will be issued at a price of 105 pence per share (the "Placing Shares"). The Placing forms part of the Company's Share Issuance Programme.

more...

[wirralowl] 20/11/2014 10:45

Shame the placing doesn't include retail investors, but on the other hand, they look like they need the proceeds quickly...

Pleased however with progress being made on the dividend payments, and the fact that they are targetting not less than 6pps for YE Dec 2015.

[skinny] 20/11/2014 07:10

Further to the statement made by Tritax Big Box REIT plc (the "Company") on 13 November 2014 as part of the Company's Trading Update, the Board of Directors is pleased to announce that it intends to proceed with an institutional placing (the "Placing") of new ordinary shares (the "Placing Shares") at a price of 105 pence per share (the "Placing Price"). The Placing will comprise the initial tranche of the Company's Share Issuance Programme announced on 8 July 2014.

As noted in the Trading Update, the Company is currently in advanced negotiations in relation to the acquisition of three additional assets, each of which is under offer and in exclusivity and will be funded by the balance of the equity proceeds raised in July 2014.

In addition, the Manager is engaged in detailed discussions with the current owners of a number of other suitable assets available for potential acquisition in the near term. Such assets are generally greater than 500,000 sq. ft. in size, on long-term leases and with inflation linked rental uplifts. Accordingly the Company is seeking to raise additional equity via the Placing with a target fundraising size of up to £110 million.

The Board believes that the Placing will have the following principal benefits for Shareholders:

· the net proceeds of the Placing will be used to invest further in UK Big Box assets, diversifying the Company's portfolio, providing strategic flexibility and capitalising on the Company's leading position in the UK Big Box market;

· the Placing and the Share Issuance Programme allows the Company to tailor future equity issuance to its immediate pipeline, providing flexibility and minimising cash drag;

· the Placing is expected to be Net Asset Value accretive for existing Shareholders (net of fees and expenses associated with the Placing);

· an increase in the size of the Company should enhance the marketability of the Company's ordinary shares and result in a broader investor base over the longer term; and

· an increase in the size of the Company will spread its fixed operating expenses over a larger issued share capital.

The Directors and the Manager are confident that the net proceeds of the Placing will be substantially invested or committed by February 2015.

The Placing Price reflects a 3.4 per cent. discount to the closing price of 108.75 pence per ordinary share on 19 November 2014.

The Placing Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid (but not the second interim dividend of 1.5 pence per ordinary share declared today in respect of the period from 1 July 2014 to 31 October 2014).

The Company is currently targeting a third interim dividend of 0.8 pence per ordinary share for the two month period ending 31 December 20141. In addition, the Company confirms that it is targeting a dividend of not less than 6.0 pence per ordinary share for the year ending 31 December 20151.

[skinny] 20/11/2014 07:09

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 2014 to 31 October 2014 of 1.5 pence per Ordinary Share, payable on or around 17 December 2014 to Shareholders on the register on 28 November 2014. The ex-dividend date will be 27 November 2014. This interim dividend will be a Property Income Distribution ("PID"). The Directors have decided not to offer a scrip alternative in connection with this interim dividend.

[mach100] 13/11/2014 11:17

Down today on future fundraising. I subscribed last time and I am happy to dig deep again. 2.3p divi to come after our 1.8p interim divi. Very shrewd acquisitions to date and a very solid if not stellar performer in my portfolio.

[contrarian2investor] 10/10/2014 18:18

Some of my holdings had their stops triggered this morning. I loaded up with more BBOX and this is now my largest holding. c2i

[skinny] 29/8/2014 07:42

The Board of Tritax Big Box REIT plc (LSE: BBOX) is pleased to announce that it has acquired the Wolseley Regional Distribution Centre ("RDC") at Ripon, North Yorkshire for a purchase price of £12.24 million (net of acquisition costs), reflecting a net initial yield of 6.73% on the corporate acquisition, assuming 1.8% costs. The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

[skinny] 28/8/2014 07:55

INTERIM RESULTS

Financial highlights:
· The Company's IPO in December 2013 (the "IPO") raised
gross proceeds of £200.0 million at an issue price of 100
pence per share. The Company's shares were admitted to the
Specialist Fund Market of the London Stock Exchange ("SFM") and to
the Channel Islands Stock Exchange Authority Limited ("CISEA") on 9
December 2013.
· A follow-on equity fundraising in June 2014 raised an
additional £20.8 million at an issue price of 104 pence per
share.
· An interim dividend of 1.85 pence per share in respect of
the period from 1 November 2013 to 30 June 2014 was declared on 8
July 2014 and paid on 8 August 2014.
· The Group's investment properties were independently
valued on 30 June 2014 at £360.7 million, representing an
increase of approximately 4.6% above the aggregate acquisition
price (excluding acquisition costs).
· The unaudited Net Asset Value ("NAV") per share increased
from 98.0 pence at the time of the IPO to 101.85 pence as at 30
June 2014, an increase of 3.9%.
· Loan to value ("LTV") ratio of 43.0% as at 30 June 2014
with long-term debt drawn in the period of £155.23
million.
· Aggregate debt margin across the portfolio of
approximately 1.75% over 3 month LIBOR. Interest rate cap
instruments utilised to limit cost of debt.

Operational highlights:
· Net IPO proceeds and follow-on equity fundraising proceeds
fully invested within approximately six months, in line with the
Company's stated target at launch. Over the period, the Group
acquired six Big Box assets in prime logistics locations across the
UK.
· Diverse covenant spread with all properties leased to
institutional-grade tenants, with regular upward-only rent
reviews.
· Weighted average unexpired lease term across the portfolio
of over 16 years.
· High calibre of tenants, all part of a FTSE 100 group.
· Full occupancy of the portfolio for the 2013/14
period.

Post Balance Sheet highlights:
· Additional £150.0 million of gross proceeds raised
in July 2014 pursuant to an oversubscribed Placing, Open Offer and
Offer for Subscription of new shares at an issue price of 103 pence
per share. Listing moved from the SFM to the premium listing
segment of the FCA's Official List and to trading on the Main
Market of the London Stock Exchange.
· £46.4 million of proceeds from July 2014 Placing,
Open Offer and Offer for Subscription have been invested in a
further two Big Box assets.

[daveofdevon] 28/8/2014 05:18

Why? Tritax is a fund management group and we, as shareholders in
Big Box, have no connection with or interest in dealings in a
different Tritax portfolio.

[contrarian2investor] 27/8/2014 21:13

This bodes well for tomorrow. GLA c2i

TRITAX SELLS IBIS HOTEL PORTFOLIO FOR £71M
hxxp://www.insidermedia.com/insider/central-and-east/122044-/

[edwardt] 20/8/2014 17:21

i think this is the best purchase yet. great yield and company. deutsche post could get a rating upgrade but don't want to as they want to maintain a certain amount of operational leverage - hence they are likely to do a special divi soon... why is this relevant? the 'low' credit rating means that tritax can get a great yield on the rental - i feel more comfortable with this company than the supermakets tey ahve on their books... lastly the site coverage is low, so there should be real scope for value add on the management side to work this asset. i am a little surprised the shares are not a little stronger today. all my own views etc

[skinny] 20/8/2014 07:03

The Board of Tritax Big Box REIT plc (LSE: BBOX) is pleased to announce that it has exchanged contracts on the DHL Supply Chain Ltd ("DHL") warehouse at Skelmersdale, Lancashire for a purchase price of £28.87 million (net of acquisition costs), reflecting a net initial yield of 6.5% on the asset acquisition, assuming 6.6% purchase costs. Completion is expected to take place on 27 August 2014. The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

Skelmersdale is strategically located approximately one mile from Junction 4 of the M58 motorway and five miles from Junction 6 of the M6. The Port of Liverpool is approximately 14 miles away, where construction is underway on a new container port, which will be capable of bringing some of the world's largest container ships into the North West region.

The unit was originally constructed in 2003 and comprises a highly specified and fully fitted distribution facility with ancillary offices and extensive car parking over approximately 29.5 acres, with a rentalised area of 471,968 sq ft, thereby representing a low site cover of 36%. The warehouse has an eaves height of 12.75m.

The Skelmersdale distribution warehouse is being acquired from DHL with a new 10 year leaseback agreement, which is subject to five yearly open market rent reviews, and a current passing rent of approximately £2.0 million per annum (£4.25 per sq ft). The next rent review is due in August 2019. DHL has committed to significant capital expenditure to fit the unit out in order to fulfil a new distribution contract, which will also operate as a multi contracted facility.

[wirralowl] 14/8/2014 09:35

Thanks Skinny. Nice to see the share price perking up after the recent placing.

[skinny] 14/8/2014 07:18

Tritax Big Box REIT plc (LSE: BBOX), the real estate investment trust, will announce its interim results for the period to 30 June 2014 on Thursday, 28 August 2014.

A presentation to analysts will take place at 8.00am on the day at Newgate Communications, Sky Light City Tower, 50 Basinghall Street, London EC2V 5DE.

Those wishing to attend are kindly asked to contact James Benjamin/ Clotilde Gros/ Georgia Lewis at Newgate Communications on [e-mail] or by telephone on [phone].

[skinny] 08/8/2014 07:11

Jefferies International Buy 105.25 105.25 114.00 115.00 Reiterates

[topvest] 30/7/2014 11:23

I've finally bought into this one now that they are premium listed. The big boxes they are buying are not cheap, but they are quality assets in a growing sector so happy with that.

[wirralowl] 25/7/2014 15:23

Bodes well that they were able to raise the full targeted amount, even having to scale back on the placing.

[skinny] 25/7/2014 12:39

The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that all of the Resolutions proposed at the General Meeting held earlier today in connection with the Issue, the Share Issuance Programme and Admission were duly passed.




The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the results of the Placing, Open Offer and Offer for Subscription of Ordinary Shares (the "Issue"). The Issue has raised its maximum targeted gross proceeds of £150 million and was oversubscribed.

A total of 145,631,068 Ordinary Shares will be issued at a price of 103 pence per Ordinary Share, of which 66,868,173 Ordinary Shares will be issued pursuant to the Open Offer, 23,118,854 Ordinary Shares will be issued pursuant to the Offer for Subscription and 55,644,041 Ordinary Shares will be issued under the Placing. All valid applications under the Open Offer (including Excess Applications) have been met in full and a scaling back exercise has been undertaken with respect to applications received pursuant to the Placing and the Offer for Subscription.

The net proceeds of the Issue will be used to invest further in UK Big Box assets, diversifying the Company's Portfolio, providing strategic flexibility and capitalising on the Company's leading position in the UK Big Box market.

[skinny] 15/7/2014 17:11

I've just had a call from HL, trying to justify their increase in costs.

I'm probably going to to look at other providers charging structures - AJ Bell seem to have a good reputation.

[skinny] 14/7/2014 13:18

I feel exactly the same - I've been with them since the mid 1980s.

I messaged them on Friday morning - no response as yet!

[daveofdevon] 14/7/2014 13:15

Not just £10.....its £10 + Vat = £12

H-L have changed their spots in the last year or so. Management fees have crept in and up all over the place. Last month I got dinged for a monthly fee of £12 because I forgot to elect for paperless share dealing.

I used to sing their praises and recommend them to everybody, but not now