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Tritax Big Box (BBOX)

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idpickering
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Tritax Big Box (BBOX)

#318452

Postby idpickering » June 15th, 2020, 7:32 am

Pre-let of 2.3 million sq ft logistics facility

SUCCESSFUL PRE-LET OF 2.3 MILLION SQ FT LOGISTICS FACILITY FOLLOWING LITTLEBROOK PLANNING CONSENT

Tritax Big Box REIT plc (Tritax Big Box or the Company) announces that it has received planning consent* and exchanged contracts with a world leading on-line retailer (the Customer) to pre-let a new Mega Box logistics building. The pre-let and planning consent (the Project) covers the Phase 2 and part of Phase 3 plots of the Company's Littlebrook, Dartford development, comprising a c.2.3 million sq ft logistics building on 35.5 acres within London's orbital M25 motorway and next to critical transport infrastructure.


https://www.investegate.co.uk/tritax-bi ... 00098907P/

idpickering
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Re: Tritax Big Box (BBOX)

#324491

Postby idpickering » July 8th, 2020, 7:07 am

Rent Collection Update

High quality portfolio and robust tenants continuing to support strong rent collection

With a diversified tenant base and a weighting towards defensive sectors, the Company's resilient portfolio has been reflected in our strong rent collection since the start of the Covid-19 pandemic.

We expect that 97% of Q3 2020 rents will be collected by the end of August 2020 comprised of the following:

· 84% of rents have been paid to date

· 13% is scheduled to be collected on a monthly basis over the remainder of the quarter

· For 3% of rents, we are in discussions with a small number of tenants over deferral of rental payments in support of their short-term cash flows during the Covid-19 pandemic

In line with our expectations outlined in our April 2020 trading update, 96% of Q2 2020 rent was paid within the respective quarter. Of the 4% of Q2 2020 rent not paid within the period, we expect 1% to be paid imminently and the remaining 3% to be collected over 2020/21.

To date, no rent-free periods or rent reductions have been agreed across the portfolio.


And later;

H1 2020 results announcement and dividend declaration

The Group will announce its results for the six months to 30 June 2020 and declare its interim dividend for the quarter ended 30 June 2020 on 6 August 2020.


https://www.investegate.co.uk/tritax-bi ... 00043208S/

idpickering
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Re: Tritax Big Box (BBOX)

#331289

Postby idpickering » August 6th, 2020, 7:27 am

Interims here;

Strong financial profile with capacity to support growth

· H1 adjusted earnings stable and in line with expectations5, overall FY20 earnings growth expected to be H2 weighted with increased income from successful development activity in part offset by anticipated disposals.

· Declared Q2 dividend of 1.5625p resulting in H1 2020 dividend of 3.125p per share (H1 2019: 3.425p) representing a pay-out ratio of 96%. The Board will continue to monitor the dividend position for FY2020 with the potential to progressively increase the dividend when it has better visibility.

· LTV of 31.8% at the period end (31 December 2019: 30.4%) in line with our stated target range of 30-35%.

· Several asset disposals in final documentation stages with an attractive pipeline of development and investment opportunities to redeploy capital.


https://www.investegate.co.uk/tritax-bi ... 00072939V/

And separately for some reason?

Dividend Declaration

The Board of Directors of Tritax Big Box REIT plc has today declared an interim dividend in respect of the period from 1 April to 30 June 2020 of 1.5625 pence per ordinary share, payable on or around 28 August 2020 to shareholders on the register on 14 August 2020. The ex-dividend date will be 13 August 2020.

This dividend will be a Property Income Distribution ("PID").


https://www.investegate.co.uk/tritax-bi ... 00092919V/

idpickering
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Re: Tritax Big Box (BBOX)

#337792

Postby idpickering » September 3rd, 2020, 7:25 am

Sale of Chesterfield asset for £57.3 million

Tritax Big Box REIT plc (Tritax Big Box or the Company) today announces completion on the sale of its Chesterfield asset for £57.3 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.

Having completed all key asset management initiatives, and as part of our ongoing portfolio evaluation, we decided to realise the value created on this asset via a sale to Warehouse REIT. The price is a premium to the 30 June 2020 book value and reflects an IRR of 18.5% per annum.

This asset sale demonstrates our ability to create and realise value in our portfolio by direct and active asset management while the proceeds from the disposal will be redeployed into attractive opportunities, including our development pipeline with a target yield on cost of 6-8%.

https://www.investegate.co.uk/tritax-bi ... 00068829X/

idpickering
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Re: Tritax Big Box (BBOX)

#341845

Postby idpickering » September 22nd, 2020, 7:08 am

Sale of three assets for £77 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 £77 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.



https://www.investegate.co.uk/tritax-bi ... 00096487Z/

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Re: Tritax Big Box (BBOX)

#347102

Postby richfool » October 12th, 2020, 1:41 pm

The Board of Directors of Tritax Big Box REIT plc has today declared an interim dividend in respect of the period from 1 July to 30 September 2020 of 1.5625 pence per ordinary share, payable on or around 13 November 2020 to shareholders on the register on 23 October 2020. The ex-dividend date will be 22 October 2020.

https://www.investegate.co.uk/tritax-bi ... 00167119B/

And:
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

https://www.investegate.co.uk/tritax-bi ... 00077118B/

idpickering
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Re: Tritax Big Box (BBOX)

#356042

Postby idpickering » November 13th, 2020, 7:07 am

BBOX Acquires prime distribution unit in core location.

ACQUISITION OF PRIME SOUTH COAST TEMPERATURE CONTROLLED DISTRIBUTION UNIT

Multiple asset management opportunities to increase value and income

Tritax Big Box REIT plc (Tritax Big Box or the Company) today announces it has acquired a prime temperature controlled distribution unit in the core South Coast location within the Nursling Industrial Estate in Southampton, for £44.2 million, reflecting a net initial yield of 5.24%, in an off market transaction with a UK real estate fund.


https://www.investegate.co.uk/tritax-bi ... 00061990F/

idpickering
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Re: Tritax Big Box (BBOX)

#356992

Postby idpickering » November 16th, 2020, 12:02 pm

Afternoon all. On 22 Oct 20 BBOX went ex dividend for the 1.5625p 3rd interim dividend. That was meant to be paid last Friday, 13 Nov 20. I hold BBOX in my ISA held with Halifax, and as yet that dividend hasn't appeared in my account? Having spoken to Halifax this morning, I was told they hadn't received it yet? Is anyone else having this same issue please?

Ian.

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Re: Tritax Big Box (BBOX)

#357026

Postby dredd0 » November 16th, 2020, 2:09 pm

idpickering wrote:Afternoon all. On 22 Oct 20 BBOX went ex dividend for the 1.5625p 3rd interim dividend. That was meant to be paid last Friday, 13 Nov 20. I hold BBOX in my ISA held with Halifax, and as yet that dividend hasn't appeared in my account? Having spoken to Halifax this morning, I was told they hadn't received it yet? Is anyone else having this same issue please?

Ian.


Divi received in HL SIPP on Friday.

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Re: Tritax Big Box (BBOX)

#357029

Postby escalader » November 16th, 2020, 2:19 pm

Received in my X-O account but not in my wife's iweb account yet.

idpickering
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Re: Tritax Big Box (BBOX)

#357030

Postby idpickering » November 16th, 2020, 2:20 pm

dredd0 wrote:
idpickering wrote:Afternoon all. On 22 Oct 20 BBOX went ex dividend for the 1.5625p 3rd interim dividend. That was meant to be paid last Friday, 13 Nov 20. I hold BBOX in my ISA held with Halifax, and as yet that dividend hasn't appeared in my account? Having spoken to Halifax this morning, I was told they hadn't received it yet? Is anyone else having this same issue please?

Ian.


Divi received in HL SIPP on Friday.


Thank you for that. I bought into this share six weeks before the ex div date. I’ve had this issue with Halifax before. This morning I got the usual, ‘we haven’t received it yet’. Pretty shoddy imho. Hopefully it’ll get there today, we’ll see. My thanks to you both.

Ian.

idpickering
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Re: Tritax Big Box (BBOX)

#357049

Postby idpickering » November 16th, 2020, 3:18 pm

I'm honoured! The dividend just appeared in my HYP, held in my ISA with Halifax! About time to.
Thanks for your input guys.

Ian.

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Re: Tritax Big Box (BBOX)

#364312

Postby idpickering » December 9th, 2020, 7:17 am

Update on the Manager

The Board of Tritax Big Box REIT plc (the Company) notes today's announcement by Tritax Management LLP (the Manager) and Aberdeen Standard Investments (ASI) relating to ASI's intention to acquire a 60% interest in the Manager (https://www.tritax.co.uk/pressrelease/a ... x-dec-2020).

The Board believes that ASI's strategic stake enhances the overall strength and capabilities of the Manager without impacting its ability to continue the successful delivery of the Company's long-term strategy, via the unaltered Investment Management Agreement between the Company and the Manager.

The Board is also reassured that Manager's staff will remain unchanged, including the Company's dedicated fund management team led by CEO, Colin Godfrey and Finance Director, Frankie Whitehead. Over recent months, to support our ongoing and long-term growth, the Manager has invested significantly in enhancing and expanding its team, and will continue to provide high-quality logistics expertise to the Company while retaining autonomy and control over all investment decisions.

Overall, the Board considers that the combination of the Manager and ASI will enhance the strength and depth of the offer to the Company.


https://www.investegate.co.uk/tritax-bi ... 00050408I/

idpickering
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Re: Tritax Big Box (BBOX)

#376601

Postby idpickering » January 13th, 2021, 2:27 pm

Chairman Succession

The Board of Tritax Big Box REIT plc (ticker: BBOX) ('the Company') announces that Sir Richard Jewson KCVO JP has informed the Board of his intention to retire as Chairman of the Company at the next Annual General Meeting ('AGM') in May 2021.

The Board would like to express its deep thanks to Sir Richard for his guidance, wisdom and service and his significant contribution to the growth of the Company over the past seven years as Chairman and wish him all the very best for the future. During Sir Richard's time as Chairman, he led the Company's successful IPO in December 2013 and subsequent equity raises totalling £2.0 billion in aggregate and he has overseen the growth in value of the Company's portfolio to £4.2 billion across 61 assets as at 30 June 2020, and the acquisition of Tritax Symmetry in February 2019.

The Board is pleased to announce that Aubrey Adams OBE, the current Senior Independent Director of the Company, will be appointed as Chairman with effect from the 2021 AGM. This appointment is the result of a thorough and comprehensive Chairman succession planning process, which was supported by external consultants, Korn Ferry, and forms part of the Board succession planning programme as previously stated in the Company's 2020 Annual Report and Accounts and results for the six months ended 30 June 2020 announced in August 2020.

The Board is delighted to welcome Aubrey as Chairman, who brings over 40 years' experience at board level in the real estate sector, including part of his executive career as chief executive of Savills plc for 17 years until 2008. He is currently Group Chair of L&Q Housing Trust, one of the largest housing associations in the UK. He previously chaired Max Property Group plc and was a non-executive director of The British Land Company PLC and senior independent director of Associated British Ports plc. Aubrey combines this extensive experience with his first-hand knowledge and understanding of the business and the Manager, having been appointed in September 2017 as Non-Executive Director and in March 2019 as Senior Independent Director.


https://www.investegate.co.uk/tritax-bi ... 08215822L/

idpickering
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Re: Tritax Big Box (BBOX)

#376851

Postby idpickering » January 14th, 2021, 7:31 am

Valuation update: strong portfolio performance

Tritax Big Box REIT plc (the Company) today announces an update on its valuation ahead of its full year results for the twelve months to 31 December 2020, which are due to be published on Wednesday, 10 March 2021. All figures disclosed in this announcement are unaudited.

UK large-scale logistics real estate market has significantly strengthened

The second half of 2020 saw a significant increase in the value of prime, larger scale, UK logistics real estate assets let to high calibre occupiers on long leases. The supply of these prime assets remains constrained and occupier demand for larger scale logistics buildings continues to strengthen. When combined with a buoyant investment market, this is driving tighter pricing in transactions, accelerating yield compression and increasing valuations for prime assets both in the broader logistics real estate market and in our own high-quality investment and development portfolio.

Portfolio valuation ahead of market expectations

The independent valuation of our portfolio's investment and development assets 1 as at 31 December 2020 indicates a like-for-like increase in value of approximately 8% since 30 June 2020. This has been driven by the strength of the logistics real estate market, our active development and asset management activity, alongside the high-quality nature of our portfolio as demonstrated through consistently high levels of rent collection.

As a result, we expect our 31 December 2020 EPRA NTA per share to have increased materially since the half year (30 June 2020: 154.85 pence per share) and to exceed the upper end of current analysts' estimates 2 .

The Company will publish its Q4 2020 trading update on Thursday, 28 January 2021.


https://www.investegate.co.uk/tritax-bi ... 00086232L/


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