Tritax Big Box Reit Share Discussion Threads

[skinny] 20/8/2014 06:03

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 08:35

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

[skinny] 14/8/2014 06:18

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 06:11

Jefferies International Buy 105.25 105.25 114.00 115.00 Reiterates

[topvest] 30/7/2014 10:23

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 14:23

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

[skinny] 25/7/2014 11:39

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 16:11

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 12:18

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 12:15

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

[skinny] 14/7/2014 10:52

DaveofDevon, I've emailed HL - they seem to have recently started to include a £10 'corporate action' charge on such issues - despite the following wording in the BBOX prospectus.

"the Open Offer provides Qualifying Shareholders with the ability to acquire Ordinary Shares at a discount to the mid-market price per Ordinary Share as at 7 July 2014 and without incurring stamp duty or dealing costs;"

[daveofdevon] 11/7/2014 16:50

H-L included my allocation in my account just after the market closed today even thought my holding (and thus my allocation) are both below 10k.

What a farce! I think somebody prepared the rights prospectus by taking the original IPO prospectus and doing a very sloppy edit.

[skinny] 10/7/2014 07:22

Carterit, thanks for the clarification - nothing as yet in my HL account.

[topvest] 09/7/2014 19:59

Well I've still not been able to buy until it's listed on the main market and I'm not investing £10k so will just have to wait and see what the price is on 30 July.

[wirralowl] 09/7/2014 17:54

DaveofDevon

carterit is correct, I've just checked my selftrade account and they've already included my allocation option of 4 for every 9 shares I hold in my portfolio.

[wirralowl] 09/7/2014 17:47

Thanks for the clarification, carterit, that suits me just fine too.

[daveofdevon] 09/7/2014 17:45

Are you sure ? I agree that the 10k was mentioned in the IPO prospectus but it has come up again in the rights issue prospectus as well.

[carterit] 09/7/2014 17:21

Thats the subscription offer.

You are still eligible for 4 new shares for every 9 that you already hold at £1.03,under the open offer ,so that suits me just fine

[skinny] 09/7/2014 15:55

Yes - not very PI friendly is it?

That's me out of the RI.

[daveofdevon] 09/7/2014 15:51

Angry snort. Can they do this?

I thought all shareholders should be treated as equals. The next thing will be not paying dividends to small shareholders !

Is their a corporate lawyer in the house. Disgusted of Devon

[skinny] 09/7/2014 15:25

I can find this on page 19.

Further references on pages 25,59 and 110.


"Applications under the Offer for Subscription must be for a
minimum of 10,000 Ordinary Shares and thereafter in
multiples of 100 Ordinary Shares."

[topvest] 09/7/2014 15:21

Page 110 of the Prospectus.

[daveofdevon] 09/7/2014 08:07

Where is £10k minimum mentioned ?

[topvest] 09/7/2014 07:56

Yes, the £10k minimum is a bit on the high side, but good news that this is getting a premium listing.