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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
  0.00 0.0% 211.60 211.40 211.60 212.80 210.40 212.00 2,731,828 16:29:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 194.5 449.5 26.3 8.0 3,638

Tritax Big Box Reit Share Discussion Threads

Showing 1376 to 1399 of 1625 messages
Chat Pages: 65  64  63  62  61  60  59  58  57  56  55  54  Older
DateSubjectAuthorDiscuss
12/10/2020
07:03
Q3 2020 Update. STRONG PORTFOLIO PERFORMANCE AND CONTINUING STRATEGIC PROGRESS Tritax Big Box REIT plc (the Company) today announces an update on its performance for the third quarter of its 2020 financial year. UK logistics market continues to strengthen Big Box logistics assets continue to benefit from changing shopping habits as the greater efficiencies they offer drives strong occupational activity, despite the uncertain economic backdrop. Take-up over the past nine months of 32.6 million sq ft has surpassed previous annual historic levels and is c.3% above 2018's previous annual record levels, according to CBRE. This demand is aligned with a noticeable increase in enquiries we have received on opportunities within our development portfolio since July driven by increasing volumes of online sales. Additional occupational requirements within the UK have also translated into stronger investment demand. We see potential for further yield compression in the near-term given attractive structural trends and the secure, long-term income offered by large-scale modern logistics buildings. Resilient portfolio underpinned by high-quality assets delivering strong rent collection Our focus on high-quality assets, and the critical role they play for our customers is reflected in ongoing strong levels of rent collection in the quarter. We expect that 99% of Q4 2020 rents will be collected by the end of November 2020, comprised of the following: -- 89% of rents have been paid to date. -- 10% is scheduled to be collected on a monthly basis over the remainder of the quarter. -- For the remaining 1% of rents, payment plans have been agreed with a small number of tenants seeking to defer rental payments, with recovery expected over the near-term. In line with our expectations, 97% of Q2 2020 rents have now been paid along with 99% of Q3 2020 rents. To date, no rent-free periods or rent reductions have been agreed across the portfolio and, with outstanding rental payments being subject to a small number of agreed deferral arrangements, our overarching expectation is 100% of all rent for the 2020 year will be paid over the remainder of 2020 and into 2021. Direct and active management of our portfolio delivering value for shareholders Our strategy is based on actively and directly managing our portfolio to drive value for shareholders. As part of this, we are taking advantage of strong investment demand for logistics real estate, selling assets where we have completed our asset management initiatives and maximised value for shareholders. This enables us to reinvest the proceeds into higher returning opportunities within our portfolio or by acquiring property in the market where we can add significant value through asset management initiatives. During the quarter we exchanged on the sale of four assets achieving: -- A total consideration of GBP134 million, in line with our target of GBP125-175 million per annum. -- An average levered IRR in excess of 12.5% per annum (net of corporate costs). -- A blended sale NIY of 5.0% compared to aggregated purchase NIY of 6.6%. We continue to identify ways to increase the value of our portfolio through asset management. During the period, we added GBP1.0 million to passing annual rent through the settlement of six rent reviews, which in aggregate equated to an increase of 8.5% to the previous passing rent. In the period to December 2021, the Company has a further 40% of the portfolio that is subject to rent review. Redeploying disposal proceeds into accelerating progress within our development platform Our development landbank is the UK's largest focused on industrial logistics assets providing the opportunity to deliver a yield on cost of 6-8%. Demand for large scale logistics assets continues to increase while supply remains constrained. During the quarter we have seen an uptick in interest from a range of customers requiring additional logistics capabilities further supporting our confidence in the market. During the quarter we have made significant progress including: -- Successful lettings of 320,000 sq ft across three speculatively developed buildings to tenants including Apple, adding GBP2.5 million to portfolio contracted annual rent. -- Achieved 1.9 million sq ft of outline planning consent at Rugby* and submitted planning applications across a further 2.0 million sq ft. -- Reached practical completion on 2.3 million sq ft of pre-let forward funded developments across our buildings let to Howdens in Raunds and Amazon in Durham. -- Delivering one of Europe's largest and most sustainable logistics buildings, let to Amazon, at our Littlebrook, Dartford site, with the external structure expected to be wind and watertight by mid-November, and on track for practical completion in Summer 2021 - view progress here . -- We are progressing our focus on ESG, which includes a recently announced commitment to net zero carbon in the construction of new developments. Construction has commenced on the 59,000 sq ft asset at Bicester, pre-let to DPD where we will reduce the carbon impact by 35%, and saving 5,000 tonnes of construction related embedded carbon emissions, as part of our industry leading practices. Colin Godfrey, CEO, Fund Management, commented: "This has been another strong quarter across our business with good operational and strategic progress. Our focus on owning the highest-quality assets and maintaining a strong tenant roster continues to position us well to weather the worst of the pandemic and deliver on our expectation that 100% of all rent for the 2020 year will be paid. "We are selling assets into a strong market, delivering attractive returns to shareholders, enabling us to redeploy proceeds into higher returning opportunities both within the portfolio and in the market. Combining a high-quality portfolio, growing development pipeline and asset management initiatives with increasing demand for logistics space, we are well positioned to continue to deliver both attractive and secure income and capital growth for investors." * Subject to Judicial Review period safety and convenience features to vehicle passengers without inflating the overall system cost. This is a very important step in our company vision, to truly enable automobiles to see, understand, secure, and assist its occupants."
skinny
09/10/2020
10:46
I've held these since 2013 @100.95 and added in March @82.85p I also hold RGL,SHED & WHR.
skinny
09/10/2020
10:42
I hold this and SHED - shed is more urban last mile. Also hold some retail parks - as these valautions skyrocket what was once a big sad old centre can be turned into logistics. The locations are decent and near motorway junctions etc. A bit of a reverse of the old turn everything into flats we have seen for 5 years
dhoult12
09/10/2020
10:39
What are the growth opportunities for warehouse and logistics companies? Investor’s Champion has taken a look at a number of companies including Tritax. #CLG #LMP #SGRO #WHR
energeticbacker
09/10/2020
09:58
Cheers Williamc. Clarification appreciated
scruff1
09/10/2020
08:31
Segro paid a record low yield (or high earnings multiple of c37x) on a shed The multiple was close to the pricing that retail units on Bond Street trade at - which for years and even in this market has been the highest valued part of the U.K. commercial real estate market The shed is in a very prime location, for a shed, so of course the whole market wouldn't trade at 37x - but the market is on fire, so further valuation uplifts on BBOX and increases in the returns from their development pipeline are highly likely Indeed chances of a bid for the whole company are also higher too (IMO)
williamcooper104
09/10/2020
06:11
You need to translate that for me
scruff1
08/10/2020
17:09
The asset was in Canning Town - so hyper prime urban logistics - amusingly the yield is close to what Bond Street properties trade at SEGRO was the buyer
williamcooper104
08/10/2020
17:04
Behind a paywall - but a very prime logistics asset just traded at 2.7 - which is as hard a yield as you're going to see on anything - this was 30 percent above asking So the supposed premium this is trading to NAV is likely a discount (yes - most of BBOXs assets aren't at 2.7 but they all float on the same water) https://reactnews.com/article/sector-giant-prevails-for-ultra-prime-130m-urban-logistics-scheme/Knight Frank also released research recently stating the demand at 94m sf by 2024
williamcooper104
07/10/2020
21:31
Any known reason for the tail off other than profit taking?
scruff1
07/10/2020
11:02
Errr - see post 1392.
skinny
07/10/2020
11:01
52 week high. I believe they have been marginally higher
scubadiverr
07/10/2020
09:53
162.20p hit earlier - all time high here @162.60p on 24/07/2019.
skinny
22/9/2020
20:46
Well that stoked a lot of interest !
scruff1
22/9/2020
07:09
Sale of three assets for GBP77 million. ACTIVELY MANAGING PORTFOLIO TO DELIVER VALUE FOR SHAREHOLDERS Tritax Big Box REIT plc (Tritax Big Box or the Company) today announces exchange on the sale of three assets to two separate purchasers for a total consideration of GBP77 million. Through our ongoing evaluation of the portfolio, we consider these assets to have reached their full value under our ownership following the completion of asset management initiatives which delivered rental growth and a lease extension. Based upon factors such as their size and relative lease lengths, and detailed quantitative analysis on expected future returns, these assets are less well aligned with our long-term strategic and portfolio objectives. Asset Size (sq Lease Length Acquisition Completion ft) (years) date date Wolseley, Baker Business 2 October Park, Ripon 221,763 6.2 August 2014 2020 --------- ------------- ------------ ----------- DHL, Langley Mill, 1 December Nottingham 255,680 4.2 August 2014 2020 --------- ------------- ------------ ----------- Whirlpool, Warth Park, September 1 December Raunds 473,263 5.6 2016 2020 --------- ------------- ------------ ----------- The sale of these three assets delivers attractive returns to our shareholders, including: -- Delivering IRRs above our 9% per annum target. -- Are sold at or above their current book value. -- The consideration of GBP77 million represents a blended NIY of 5.6%, compared to our purchase cost of GBP65.1 million (NIY of 6.6%). -- Following exchange, the Company will benefit from approximately three months of additional rental income totalling GBP0.8 million due to the delayed completion on the disposal of the Langley Mill and Warth Park assets. Colin Godfrey, CEO, Fund Management, commented: "Ongoing portfolio evaluation is an intrinsic part of our strategy to deliver value to our shareholders. We continue to see strong demand for UK logistics real estate supporting attractive prices on assets which no longer align with our strategy and where we believe they have reached their full value potential in our ownership. So far this year we have disposed of GBP134 million of assets, and we will be redeploying the proceeds into attractive opportunities, including those within our portfolio where we see the potential to secure higher returns for shareholders."
skinny
14/9/2020
15:49
1m sf planning application in Merseyside submitted
williamcooper104
11/9/2020
13:59
Yes this feels a lot safer than other stuff i hold at the moment... If it all collapses to the point warehouses are not needed - which gives the impression nobody is buying anything online or in store, then there are bigger issues to worry about than share prices.
dhoult12
10/9/2020
18:24
A very good deal and as management tells us all the cash goes towards the building of new sheds. The JV with National Grid still facinates me with all those round gas holders - what scope and then their is the south London land................needed when there is new crossing and a new route to Dover and the north of England............. Just hold and reinvest the dividend - pop it into a ISA/SIPP and cash it all in when one retires say at 70.
anley
03/9/2020
14:18
Yep - and that's unlevered - with debt it's going to be 30 plus
williamcooper104
03/9/2020
14:06
"IRR of 18.5% per annum" lovely!
n0rbie
03/9/2020
13:06
The property was acquired in March 2014 for £28.64m... HTTPS://www.investegate.co.uk/tritax-big-box-reit/rns/agreement-to-acquire-tesco-distribution-centre/201403131440051643C/
speedsgh
03/9/2020
07:10
Sale of Chesterfield asset for GBP57.3 million. Tritax Big Box REIT plc (Tritax Big Box or the Company) today announces completion on the sale of its Chesterfield asset for GBP57.3 million. We acquired the asset in March 2014 when it had 6.2 years of lease remaining to Tesco. In 2018, we implemented a pro-active asset management initiative and agreed an early surrender of the existing lease to Tesco and secured a new 15 year lease to Amazon, significantly enhancing the value of the asset. more.....
skinny
26/8/2020
22:36
Happy to reinvest divis here. SHED another good one just not as liquid. Even stores in trouble who refused to pay their rent elsewhere pay the warehouse. The costs of the fit out compared to the shed rent, de risk it for the landlord massively.
dhoult12
26/8/2020
21:45
RBC raises Tritax BBOX to 170 (160) Outperform
scruff1
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