Tritax Big Box REIT

Tritax Big Box REIT
Company typePublic limited company
IndustryProperty investment
Founded2013 (2013)
Headquarters
Duke Street, St James's, London
,
United Kingdom
Key people
Richard Jewson (Chairman)
Revenue £305.3 million (2025)[1]
£439.5 million (2025)[1]
£363.3 million (2025)[1]
Websitetritaxbigbox.co.uk

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 100 Index.[2]

History

The company is managed by Tritax, a property management business, formed in 1995.[3] It was the subject of an initial public offering raising £200 million in November 2013.[4] 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.[5] Addition funds were raised through placings in February 2016 and in September 2016.[6]

In February 2024, the company announced it had reached a merger agreement with UK Commercial Property REIT.[7][8] The transaction received shareholder approval on 2 May 2024,[9] allowing it to proceed to completion.[10]

Operations

The company owns a distribution centre in Sherburn-in-Elmet leased to Sainsbury's,[11] a distribution centre near Barlborough leased to Tesco[11] and a Marks & Spencer distribution centre in Leicestershire.[4] It also owns properties leased to Next plc, Morrisons, DHL Express, Rolls-Royce, L'Oréal, Kuehne + Nagel, Ocado, Dunelm Group, Howdens Joinery and T.K. Maxx.[5] The company valued its portfolio at £4.8 billion as at 31 December 2023.[1]

References

  1. ^ a b c d "Annual Results 2025" (PDF). Tritax Big Box REIT. Retrieved 27 February 2026.
  2. ^ "Ashtead Group (UK): Transfer of Listing Category – Update: Changes in FTSE UK Index Series". FTSE Russell. 25 February 2026. Retrieved 27 February 2026.
  3. ^ "Newgate Communications advising on IPO of Tritax Big Box REIT". Newgate Communications. 12 November 2013. Retrieved 14 June 2015.
  4. ^ a b "Tritax targets big returns". Shares Magazine. 12 November 2013. Retrieved 14 June 2015.
  5. ^ a b "Trust Insider: the £1bn appeal of Tritax Big Box Reit". 3 November 2015. Retrieved 24 April 2017.
  6. ^ "Tritax to raise £150m". Investos Chronicle. 28 September 2016. Retrieved 24 April 2017.
  7. ^ Howard, Tom (2024-02-12). "Warehouse owner Tritax agrees £4bn merger deal". The Times. ISSN 0140-0460. Retrieved 2024-02-12.
  8. ^ Oliver, Joshua (12 February 2024). "Tritax Big Box and UKCM agree £900mn takeover deal". www.ft.com. Retrieved 2024-02-12.
  9. ^ "Tritax Big Box REIT and UKCM merger wins shareholder approval". Property Week. Retrieved 15 May 2024.
  10. ^ "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.
  11. ^ a b "Tritax Big Box REIT Says On Course For Steady Income Growth". Morningstar, Inc. 19 May 2014.
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