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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tritax Big Box Reit Plc | 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 | |
---|---|---|---|---|---|---|---|---|---|---|
2.50 | 1.70% | 149.60 | 149.10 | 149.30 | 149.70 | 147.50 | 147.50 | 4,589,630 | 16:35:15 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Agents & Mgrs | 222.1M | 70M | 0.0368 | 40.54 | 2.84B |
TIDMBBOX
RNS Number : 2019C
Tritax Big Box REIT plc
18 January 2018
18 January 2018
TRITAX BIG BOX REIT PLC
(the "Company")
ACQUISITION OF THE AO WORLD PLC NATIONAL DISTRIBUTION CENTRE
AT WESTON ROAD, CREWE, CHESHIRE FOR GBP36.10 MILLION
The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has acquired a National Distribution Centre at Weston Road, Crewe, Cheshire. The property is let to Expert Logistics Ltd ("Expert Logistics"), a wholly owned subsidiary of AO World Plc ("ao.com"), a leading European online electrical retailer listed on the London Stock Exchange, which will act as guarantor. The total consideration is GBP36.10 million.
Built in 2006, this modern, high specification cross docked facility is located diagonally opposite the tenant's other distribution facility and together form ao.com's UK National Distribution hub. The versatile property, which has benefited from significant capital investment by the tenant, has a total gross internal area of 387,541 sq ft., an eaves height of 12.5 metres, an extensive yard area and parking, with a site cover of 49%.
The facility is strategically positioned in a core national distribution location, with excellent access to the M6 and M1 via the A50 dual carriageway, with good connectivity to Manchester and Liverpool airports and the Port of Liverpool. The immediate location has attracted major logistics occupiers including Bargain Booze, Bentley Motors Limited and Rymans.
The property is being acquired with an unexpired lease term of approximately nine years, which is subject to five yearly upward only open market rent reviews. The next rent review is due in April 2021.
DTRE represented the Company on the acquisition.
Colin Godfrey, Partner of Tritax, commented:
"This dedicated e-commerce facility, which plays an integral role in ao.com's national distribution network, further diversifies our portfolio by tenant and geography. Against the backdrop of strong tenant demand and the limited supply of modern Big Box National Distribution assets, this investment offers the potential for attractive rental growth in 2021."
For further information, please contact:
Tritax Group via Newgate below Colin Godfrey (Partner, Fund Manager) Newgate (PR Adviser) Tel: 020 7680 6550 James Benjamin Email: tritax@newgatecomms.com Anna Geffert Jefferies International Tel: 020 7029 8000 Limited Gary Gould Stuart Klein Akur Limited Tel: 020 7493 3631 Anthony Richardson Tom Frost Siobhan Sergeant
The Company's LEI is: 213800L6X88MIYPVR714
NOTES:
Tritax Big Box REIT plc is the only listed vehicle dedicated to investing in very large logistics warehouse assets ("Big Boxes") in the UK and is committed to delivering attractive and sustainable returns for shareholders. Investing in and actively managing existing built investments, land suitable for Big Box development and pre-let forward funded developments, the Company focuses on well-located, modern "Big Box" logistics assets, typically greater than 500,000 sq. ft. (measured by floor area, c. 66% of the Company's existing logistics facilities including forward funded developments are in excess of 500,000 sq ft(1) ), let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews and 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 and limited supply of Big Boxes.
The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT"), is listed on the premium segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.
Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
January 18, 2018 02:00 ET (07:00 GMT)
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