Tritax Big Box REIT

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.

Tritax Big Box REIT

Company type	Public limited company
Traded as	LSE: BBOX FTSE 250 component
Industry	Property investment
Founded	2013; 12 years ago (2013)
Headquarters	Duke Street, St James's, London , United Kingdom
Key people	Richard Jewson (Chairman)
Revenue	£276.0 million (2024)[1]
Operating income	£514.6 million (2024)[1]
Net income	£445.5 million (2024)[1]
Website	tritaxbigbox.co.uk

History

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

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 2023.^[1]