Tritax Big Box expands portfolio to nearly £4bn
Tritax Big Box REIT has reported a 12.6% increase in the value of its portfolio during the first six months of the year.
The logistics warehouse REIT saw values rise to £3.85bn on its 58 assets covering more than 30.9m sq ft and its forward-funded development commitments.
Its EPRA NAV per share fell by 1.8% to 150.08p owing to the costs incurred from the acquisition of db symmetry.
Tritax Big Box REIT has reported a 12.6% increase in the value of its portfolio during the first six months of the year.
The logistics warehouse REIT saw values rise to £3.85bn on its 58 assets covering more than 30.9m sq ft and its forward-funded development commitments.
Its EPRA NAV per share fell by 1.8% to 150.08p owing to the costs incurred from the acquisition of db symmetry.
During the period Tritax acquired an 87% interest in db symmetry, which was valued at £370m. The land portfolio has the potential to deliver circa 38m sq ft of logistics assets.
Excluding these costs, EPRA NAV growth was 0.7% during the six-month period.
The portfolio’s contracted annual rent roll increased by 3.5% to £166.8m.
Sir Richard Jewson, chairman of Tritax Big Box REIT, said: “The sector continues to benefit from the structural change in shopping habits, as consumers switch from the high street to buying online, creating ongoing demand for logistics space to fulfil these orders.
“With Brexit contributing to an uncertain economic environment and making it more difficult for companies to grow their profits, the operational efficiencies and cost savings offered by big boxes remain compelling to occupiers.”
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