Tritax Big Box REIT
 | |
| Company type | Public limited company |
|---|---|
| Industry | Property investment |
| Founded | 2013 |
| Headquarters | , |
Key people | Richard Jewson (Chairman) |
| Revenue |  £222.1 million [1] (2023) |
| £126.7 million [1] (2023) | |
| £70.0 million [1] (2023) | |
| Website | tritaxbigbox |
Tritax Big Box REIT is a British real estate investment trust (REIT) investing in "Big Box" distribution centres. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
History
[edit]The company is managed by Tritax, a property management business, formed in 1995.[2] It was the subject of an initial public offering raising £200 million in November 2013.[3] It raised a further £150 million in July 2014, a further £110 million in November 2014 and a further £175 million in March 2015 as well as a £500 million lending facility.[4] Addition funds were raised through placings in February 2016 and in September 2016.[5]
In February 2024, the company announced it had reached a merger agreement with UK Commercial Property REIT.[6][7] It was reported that the combined business was likely be included in the FTSE 100 Index with a valuation of £4 billion.[6][7] The transaction received shareholder approval on 2 May 2024,[8] allowing it to proceed to completion.[9]
Operations
[edit]The company owns, on behalf of its lessees, a Sainsbury's distribution centre in Sherburn-in-Elmet,[10] a Tesco distribution centre near Barlborough[10] and a Marks & Spencer distribution centre in Leicestershire.[3] It also owns properties built for Next, Morrisons, Wolseley, DHL, Rolls-Royce, L'Oréal, Kuehne + Nagel, Ocado, Dunelm, Howdens Joinery and T.K. Maxx.[4] The company's portfolio was valued at £4.8 billion as at 31 December 2022.[1]
References
[edit]- ^ a b c d "Annual Results 2023" (PDF). Tritax Big Box REIT. Retrieved 1 March 2024.
- ^ "Newgate Communications advising on IPO of Tritax Big Box REIT". Newgate Communications. 12 November 2013. Retrieved 14 June 2015.
- ^ a b "Trust Insider: the £1bn appeal of Tritax Big Box Reit". 3 November 2015. Retrieved 24 April 2017.
- ^ "Tritax to raise £150m". Investos Chronicle. 28 September 2016. Retrieved 24 April 2017.
- ^ a b Howard, Tom (2024-02-12). "Warehouse owner Tritax agrees £4bn merger deal". ISSN 0140-0460. Retrieved 2024-02-12.
- ^ a b "Tritax Big Box and UKCM agree £900mn takeover deal". www.ft.com. Retrieved 2024-02-12.
- ^ "Tritax Big Box REIT and UKCM merger wins shareholder approval". Property Week. Retrieved 15 May 2024.
- ^ "Tritax Big Box REIT (UK): Merger with UK Commercial Property REIT Limited (UK) - Update: Changes in FTSE UK Index Series". 13 May 2024. Retrieved 15 May 2024.
- ^ a b "Tritax Big Box REIT Says On Course For Steady Income Growth". Morning Star. 19 May 2014. Retrieved 14 June 2015.
