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Tritax Big Box Fundamentals (BBOX)

Admission to Trading

Further to the announcement on 4 December 2013, Tritax Big Box REIT plc (the "Company") is pleased to announce that 200 million Ordinary Shares have today been admitted to trading on the Specialist Fund Market of the London Stock Exchange and the Official List of the Channel Islands Stock Exchange ("Admission"). The Company's ticker symbol is BBOX.

Bought in @100.95p

Hi Skinny
Yes I have also bought 2000 at 100.90p

afternoon chaps - i'm in - expect this to head north in a short period of time - in demand niche market with few competitors...................

Logistics has always played an essential role in retailing, but this segment of the market is more important than ever. The most successful high street retailers get rid of their stock every few weeks, while the best online rivals are those that can promise one-day delivery.


Large, mechanised warehouses enable retailers to keep such promises, particularly when they are located near transport hubs.


Tritax Group has been involved in this sector for years. A fund management firm focused on property, it has provided warehouses for blue-chip retailers including Next and Amazon. But Tritax Big Box will be the group’s first foray into the stock market.


Colin Godfrey, who runs the business, has been in property since the 1980s, including several years managing £1billion in property assets for the British Gas pension scheme. Godfrey intends to raise £200million in the flotation and build the assets up to £1billion in four to five years.


The warehouses that the firm will acquire can be a million square feet or more – the equivalent of about 12 football pitches – and they are in real demand from retailers. But supply is limited as there are only certain areas where such huge buildings can be developed.

The Tritax Big Box team pride themselves on being exceptionally well connected in the property world, so they can acquire sites before rivals even hear about them and secure them for a good price.


Tritax Big Box expects to have three warehouses under its belt before Christmas with a fourth shortly after and two more within six months. Each site costs between £30million and £80million, so the company does not intend to indulge in speculative development. Instead, it will acquire warehouses once tenants have been secured.


The forthcoming purchases, for example, are expected to involve well-known retailers. Rental agreements will typically be for at least 15 years and linked to inflation, as will dividends.


Godfrey is also aiming for capital growth, so investors can expect a considerable rise in the share price. Online retail is forecast to account for £140billion of sales in Britain by 2016, up from £68billion in 2011. But it needs these big boxes to flourish and high street retailers need them too.

In these warehouses, goods are packed floor to ceiling and much of the work is mechanized, so costs are kept to a minimum.


Midas verdict: Tritax Big Box is the first listed property company specialising in UK-based gigantic warehouses. These sites are in demand and the Tritax team – including chairman Richard Jewson, who is also chairman of successful Midas warehouse tip Raven Russia – have a record of finding the right sites and developing them for their customers. The stock should prove rewarding. Buy.

Aviva and cohorts > 12%

EAST RIDING OF YORKSHIRE COUNCIL > 7%

Acquisition Of The Sainsbury's Distribution Centre

ACQUISITION OF THE SAINSBURY'S DISTRIBUTION CENTRE, LEEDS FOR £48.75 MILLION

The Board of Tritax Big Box REIT plc is pleased to announce that it has acquired a Sainsbury's distribution centre in Sherburn-in-Elmet, Leeds from a fund advised by Ekistics Property Advisors LLP for a purchase price of £48.75 million (net of acquisition costs), reflecting a net initial yield of 6.65% on the corporate acquisition (equivalent to 6.39% net initial yield assuming standard purchaser's costs). The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

This regional distribution centre is one of Sainsbury's main regional distribution hubs distributing groceries to supermarket and 'local' store formats. It is strategically located with excellent transportation connections via road (A1(M) motorway), rail and air for central UK distribution for both e-commerce and national stores.

It was constructed in 2000 and comprises over 585,000 sq. ft. of ground floor area with 13 metre eaves height, extending over four buildings with associated loading and parking. The distribution centre is being acquired with an unexpired lease term of approximately 13 years, which is subject to five yearly upward only open market rent reviews.

rns

buy and lease back agreement sainsburys - excellent revenue stream..........

http://www.investegate.co.uk/tritax-big-box-reit--bbox-/rns/acquisition-of-the-sainsbury-s-distribution-centre/201312111505013086V/

more fantastic news - rns out onwards and upwards.......................

we are now the landlords of marks & sparks - http://www.investegate.co.uk/tritax-big-box-reit--bbox-/rns/acquisition-of-m-s-distribution-centre/201312131145054990V/

ACQUISITION OF M&S DISTRIBUTION CENTRE

AGREEMENT TO ACQUIRE THE MARKS & SPENCER EAST MIDLANDS DISTRIBUTION CENTRE FOR £82.575 MILLION

The Board of Tritax Big Box REIT plc is pleased to announce that it has exchanged contracts for the acquisition of the Marks & Spencer East Midlands Distribution Centre at Castle Donington, Leicestershire for a purchase price of £82.575 million (net of acquisition costs) reflecting a net initial yield of 5.2%. Completion is expected to take place on 17 December 2013. The purchase will initially be funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

The regional distribution centre was purpose-built for Marks & Spencer in 2011 and comprises over 900,000 sq. ft. of ground floor area with 25 metre eaves height, with associated offices, car park and vehicle maintenance unit and with the benefit of an adjacent rail freight terminal and sidings. It is strategically located with excellent transportation connections via road (M1 motorway), rail and air for central UK distribution of general merchandise for both e-commerce and national stores.

The distribution centre is being acquired with an unexpired lease term of approximately 23 years, which is subject to a five yearly open market rent review with a minimum increase equivalent to 1.5% per annum and a maximum increase equivalent to 2.5% per annum (in each case on a compounded basis).

Interactive Investor article

On market transfer between direct & indirect funds

Aviva plc & its subsidiaries 10% to 11% Change at Direct Interest Level

Slowly ticking up over the past couple of weeks.

Jefferies International Buy 0.00 109.13 114.00 114.00 Reiterates

Interim Management Statement

HIGHLIGHTS
· IPO in December 2013 fully subscribed raising £200m
· Admitted to the Specialist Fund Market of the London Stock Exchange and listed on the Channel Islands Stock Exchange on 9 December 2013
· Over £187m of net IPO proceeds invested in portfolio of four distribution centres let to institutional-grade tenants
· Secured £23.5m senior debt financing in April 2014 to Sainsbury's distribution centre in Sherburn-in-Elmet, Leeds
· Initial portfolio is performing in line with management expectations
· Healthy pipeline of further suitable new investment opportunities being pursued

Jefferies International Buy 107.63 107.63 114.00 114.00 Reiterates

Proposed Placing

The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) (the "Company"), announces that the Company is seeking to place with institutional investors up to 19.98 million new ordinary shares of £0.01 each in the Company (the "Placing Shares"), representing approximately 9.99 per cent of the Company's existing issued share capital (the "Placing").

As set out in the Interim Management Statement on 19 May 2014, the Company has successfully invested £187.17m of the net proceeds of its initial fundraise, acquiring four distribution centres. In April 2014, the Company also signed an agreement with Barclays Bank PLC to provide £23.5 million of senior debt financing to Sainsbury's distribution centre in Sherburn-in-Elmet, Leeds.

The Board believes that there is a healthy pipeline of suitable new investment opportunities and the Company is currently in advanced negotiations in relation to the acquisition of two additional assets. It is intended that the capital raised via the Placing will be used in the near term to assist in financing these investment opportunities.

The Placing is expected to close at 12 noon (London time) today but may close earlier or later at the absolute discretion of the Company. The issue price will be determined by a book build process and is expected to be at a level which is accretive to the net asset value per share of the Company, after costs.

Application will be made to the London Stock Exchange and the Channel Islands Securities Exchange Authority Limited (formerly the Channel Islands Stock Exchange) ("CISEA") for the Placing Shares to be admitted to trading on the Specialist Fund Market of the London Stock Exchange and the CISEA ("Admission"). It is expected that Admission will become effective on 4 June 2014.

The Placing Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares of £0.01 each in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid (including the Company's initial interim dividend due to be declared in August 2014).

In connection with the Placing, Jefferies is acting as sole bookrunner and Akur is acting as financial adviser to the Company.

Result of Placing

Further to the announcement earlier today, the Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) (the "Company"), is pleased to announce that it has received commitments from institutional investors for 19.98 million new ordinary shares of £0.01 each in the Company (the "Placing Shares"), representing approximately 9.99 per cent of the Company's existing issued share capital (the "Placing").

Accordingly the Placing is now closed and the issue price has been set at 104 pence per share.

Application will be made to the London Stock Exchange and the Channel Islands Securities Exchange Authority Limited (formerly the Channel Islands Stock Exchange) ("CISEA") for the Placing Shares to be admitted to trading on the Specialist Fund Market of the London Stock Exchange and the CISEA ("Admission"). It is expected that Admission will become effective on 4 June 2014.

The Placing Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares of £0.01 each in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid (including the Company's initial interim dividend due to be declared in August 2014).

Financing of M&S and Tesco Distribution Centres

FINANCING OF MARKS & SPENCER EAST MIDLANDS DISTRIBUTION CENTRE &
TESCO DISTRIBUTION CENTRE, SOUTHMEAD INDUSTRIAL ESTATE, DIDCOT

Further to the acquisitions of the Marks & Spencer East Midlands Distribution Centre at Castle Donington, Leicestershire announced on 13 December 2013 and the Tesco Distribution Centre at Southmead Industrial Estate, Didcot announced on 4 April 2014, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has signed agreements with Barclays Bank PLC to provide £49.3 million and £12.2 million respectively of senior debt financing secured individually on the assets. These reflect loan to value ratios of approximately 59% and 45% respectively. The debt financing for Marks & Spencer East Midlands Distribution Centre is for a term of five years, with an option to extend prior to the end of year two and three up to a maximum of seven years, with a margin of 200 bps above three month LIBOR. The debt financing for Tesco Didcot Distribution Centre is for a term of four years, with an option to extend prior to the end of year one up to a maximum of five years, with a margin of 185 bps above three month LIBOR.

As previously noted, the Group intends to operate a flexible gearing strategy with respect to individual assets. Generally, the Group expects to utilise borrowings to a greater extent on individual assets with longer unexpired lease lengths, while assets with shorter lease terms are expected to be geared to a lesser extent.

Following drawdown of the loans, the Group's aggregate borrowings will be 45% of the Group's gross assets. As set out in the Company's investment policy, the Group's initial target level of aggregate borrowings is 45% of the Group's gross assets, once fully invested, with a medium term target of 40% of the Group's gross assets.

ACQUISITION & FINANCING OF DISTRIBUTION WAREHOUSE

The Board of Tritax Big Box REIT plc (LSE: BBOX) is pleased to announce that it has exchanged contracts for the acquisition of Next Group Plc's Regional Distribution Warehouse facility at West Moor Park, Doncaster for a purchase price of £60 million (net of acquisition costs), reflecting a net initial yield of 6.07% on the acquisition. The Board is also pleased to announce that the Company has signed an agreement with Barclays Bank PLC to provide £16.4 million of senior debt financing secured on the asset. This reflects a loan to value ratio of approximately 27%. Completion and drawdown of the loan facility is expected to take place on 17 June 2014. This asset is one of the two additional assets noted as being in advanced negotiations in the Company's announcement dated 30 May 2014.

The distribution warehouse was originally developed in 2003 and let to Next for a 20 year term without breaks. It incorporates modern design features including 17.5 metre eaves, office accommodation, cross docking, extensive and secure loading and car parking facilities and a low site cover of approximately 45%. The building was extended in 2005 to 755,052 sq ft of ground floor area; in addition, a first and second floor mezzanine storage area of 106,552 sq ft was installed, with a sophisticated automated storage system.

Doncaster is one of largest commercial centres in South Yorkshire and is also one of the most important distribution locations in the UK due to its excellent motorway and rail connections, as well as its close proximity to the Humber Ports.

The distribution warehouse is being acquired with an unexpired lease term of approximately 9 years, which is subject to five yearly upward only open market rent reviews with the next review scheduled for March 2018.

The debt financing is for a term of four years, with an option to extend prior to the end of year one up to a maximum of five years. The blended margin payable across the Company's financings to date is approximately 190 bps above three month LIBOR.

Roebuck Asset Management represented the Company. CBRE represented the vendor.

ACQUISITION & FINANCING OF MORRISONS RDC KENT

ACQUISITION AND FINANCING OF MORRISONS DISTRIBUTION CENTRE, SITTINGBOURNE FOR £97.8 MILLION

The Board of Tritax Big Box REIT plc (LSE: BBOX) is pleased to announce that it has exchanged contracts for the acquisition of the Wm Morrison Supermarkets plc South East Regional Distribution Centre at Sittingbourne, Kent for a purchase price of £97.8 million (net of acquisition costs), reflecting a net initial yield of 5.2% on the acquisition. The Board is also pleased to announce that the Company has signed an agreement with Barclays Bank PLC to provide £53.8 million of senior debt financing secured on the asset. This reflects a loan to value ratio of approximately 55%. Completion and drawdown of the loan facility is expected to take place on 24 June 2014. This asset is the second of the two additional assets noted as being in advanced negotiations in the Company's announcement dated 30 May 2014. The Company is now substantially fully invested.

The distribution facility was developed in 2009 and comprises 919,443 sq. ft. of ground floor area with low site cover of approximately 42%. It incorporates modern design features, including two large purpose built units which are used for 'ambient goods' and 'chilled food' respectively. Both buildings also have good energy efficiency standards. The distribution centre is strategically located with excellent transportation connections via road (M2 & M25), deepwater/port facilities (Tilbury and Thames Gateway) and the Channel Tunnel (Folkestone), which lies 31 miles to the south east for mainland Europe.

Sittingbourne has a strong industrial and growing logistics presence within the South East, benefiting from its close proximity to London and infrastructure and transport links.

The distribution centre is being acquired from Wm Morrison Supermarkets plc subject to a new leaseback agreement for 25 years and with annual rent reviews indexed to RPI (subject to a 2% cap).

The debt financing is for a term of five years, with an option to extend up to a maximum of seven years. Following drawdown of the loan, the Company's aggregate borrowings will be 45% of gross assets. The blended margin payable across the Company's financings to date is approximately 175 bps above three month LIBOR.

Proposed Fundraising

The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) (the "Company") announces that the Company is considering raising additional equity share capital through a placing, open offer and offer for subscription with a target fundraising size of £150 million, expected to close in July. As referred to in the Company's IPO prospectus, the Company also intends, at the same time, to transfer its listing from the Specialist Fund Market to the premium listing segment of the Official List of the UK Financial Conduct Authority.

The Company has successfully invested the proceeds of its initial £200 million fundraise and its subsequent £20.8 million placing in a portfolio of six Big Box assets let to institutional-grade tenants, with appropriate levels of debt drawn down against the assets in line with the Company's investment policy. The Board and the Manager believe that there is a strong pipeline of suitable new investment opportunities and the Company is in detailed discussions in relation to the potential acquisition of a number of additional assets.

A further announcement will be made in due course.

DIVIDEND DECLARATION

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared a dividend in respect of the period from admission of the share capital of the Company to trading on the Specialist Fund Market on 9 December 2013 to 30 June 2014 of 1.85 pence per Ordinary Share, payable on or around 8 August 2014 to Ordinary Shareholders on the register on 18 July 2014. The ex-dividend date will be 16 July 2014.

Take a deep breath!

PUBLICATION OF PROSPECTUS AND CIRCULAR



The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) announces the publication of a prospectus today (the "Prospectus") in relation to: an issue of up to 145,631,068 new Ordinary Shares through a Placing, Open Offer and Offer for Subscription at a price of £1.03 per Ordinary Share (the "Issue Price") to raise up to £150 million (the "Issue"); the proposed future issue of up to 350 million new Ordinary Shares through the Share Issuance Programme; and the proposed admission of the Company's issued and to be issued ordinary share capital to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange (together "Admission"). The new Ordinary Shares will also initially be admitted to the Official List of the Channel Islands Securities Exchange Authority Limited ("CISEA").

The Company has successfully invested the proceeds of its initial £200 million fundraise and its subsequent £20.8 million placing in a portfolio of six Big Box assets let to Institutional-Grade Tenants, in line with the Company's investment policy. The Board and the Manager believe that there is a strong pipeline of suitable new investment opportunities and the Company is in detailed discussions in relation to the potential acquisition of a number of additional Big Box assets.

The Board believes that the Issue and the Share Issuance Programme have the following principal benefits for Shareholders:

· the net proceeds of the Issue and Share Issuance Programme will be used to invest further in UK Big Box assets, diversifying the Company's Portfolio, providing strategic flexibility and capitalising on the Company's leading position in the UK Big Box market;

· the Issue and the Share Issuance Programme will allow the Company to tailor future equity issuance to its immediate pipeline, providing flexibility and minimising cash drag;

· the Open Offer provides Qualifying Shareholders with the ability to acquire Ordinary Shares at a discount to the mid-market price per Ordinary Share as at 7 July 2014 and without incurring stamp duty or dealing costs;

· the Issue is expected to be Net Asset Value accretive for Existing Shareholders (net of fees and expenses associated with the Issue);

· an increase in the size of the Company should enhance the marketability of the Company and result in a broader investor base over the longer term; and

· an increase in the size of the Company will spread its fixed operating expenses over a larger issued share capital.

The Directors are confident that sufficient suitable assets will be identified, assessed and acquired, to substantially invest or commit the net proceeds from the Issue within a three to four month period following Admission.

Issue Highlights

· Placing, Open Offer and Offer for Subscription at a price of 103 pence per Ordinary Share to raise Gross Proceeds of up to £150 million (up to £147 million net of fees and expenses associated with the Issue being 2 per cent. of Gross Proceeds).

· Up to 97,768,888 Ordinary Shares will be made available to Qualifying Shareholders at the Issue Price pro rata to their holdings of Existing Shares, on the terms and subject to the conditions of the Open Offer, on the basis of 4 new Ordinary Shares for every 9 Existing Shares held and registered in the name of each Qualifying Shareholder on the Record Date.

· Qualifying Shareholders who take up all of their Open Offer Entitlements may also apply under the Excess Application Facility for additional Ordinary Shares in excess of their Open Offer Entitlement. Applications under the Excess Application Facility will be allocated, in the event of over-subscription, pro rata to Qualifying Shareholders' applications under the Excess Application Facility.

· In addition, a minimum of 47,862,180 Ordinary Shares have been reserved for the Offer for Subscription and the Placing. This will grow to the extent that Qualifying Shareholders do not take up their entitlements under the Open Offer (or apply through the Excess Application Facility).

· The Issue Price reflects a 1.8 per cent. discount to the closing mid-market price of 104.88 pence per Ordinary Share on 7 July 2014.


Net Asset Value Update

The Company has today published an audited Net Asset Value per Ordinary Share as at 31 May 2014 of 104.5 pence. The Company has also today published an unaudited Net Asset Value per Ordinary Share as at 30 June 2014 of 101.85 pence, prior to adjusting for the first interim dividend declared today by the Company of 1.85 pence per Ordinary Share. The reduction in Net Asset Value per Ordinary Share between 31 May 2014 and 30 June 2014 relates to the acquisition costs incurred on the acquisition of Next Big Box and Morrisons Big Box in June 2014.

Dividends

The Company's stated intention is to pay dividends on a half-yearly basis. The first interim dividend of 1.85 pence per Ordinary Share was declared today in relation to the period from the IPO to 30 June 2014 with a record date of 18 July 2014. After careful consideration, the Directors have decided not to offer a scrip alternative in connection with the first interim dividend, which will be payable on or around 8 August 2014. For the avoidance of doubt, Ordinary Shares subscribed pursuant to the Issue will not rank for the first interim dividend.

The Board is targeting an initial annual dividend yield (on a fully invested and geared basis) of 6 per cent. by reference to the IPO issue price of 100 pence1. The Company will seek to grow the dividend over the medium term as rent reviews are triggered on the Portfolio. Over a five year period, the Directors expect that the dividend will grow at a rate reflecting CPI/RPI due to the upward only rent reviews typically contained in the leases of existing and target assets.

The Company is currently targeting a dividend of at least 2.3 pence per Ordinary Share for the six months ending 31 December 20141. In arriving at this figure, the Directors have assumed that the Issue is fully subscribed and the net proceeds are invested on a straight line basis over a four month period following Admission, with suitable assets being acquired with similar return and gearing parameters as for the existing Portfolio.

Admission to the Official List

As stated at the time of the Company's IPO, the Directors' objective has been to move the Company to the Official List of the FCA as soon as practicable, inter alia, once it had met the applicable listing criteria. The Company is, therefore, seeking to move the trading of its entire issued and to be issued share capital from the Specialist Fund Market and the Official List of the CISEA to the Main Market of the London Stock Exchange and to list on the Official List of the FCA. The Directors believe that such a move is in the best interests of the Company and Shareholders as a whole.

A key benefit of the move to the Official List is that the Company will become eligible for inclusion in both the FTSE EPRA/NAREIT index series and the FTSE UK index series which is expected to make the Company's shares more attractive to a broader range of institutional investors.

The Company has provided notice to Shareholders of the intended cancellation of its listing on the Official List of the CISEA in accordance with Rule 3.5.9 of the CISEA Listing Rules. The CISEA De-Listing is conditional upon Admission.

Alternative Investment Fund Manager ("AIFM")

The Company's manager, Tritax Management LLP (the "Manager"), became authorised by the FCA as an Alternative Investment Fund Manager on 1 July 2014.

Circular

The Company has also posted the Circular to Shareholders, today (the "Circular"), convening the General Meeting at which the Directors are seeking authority to, inter alia: (i) issue and allot Ordinary Shares in respect of the Issue; and (ii) issue and allot Ordinary Shares in respect of the Share Issuance Programme.

Result of General Meeting

The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that all of the Resolutions proposed at the General Meeting held earlier today in connection with the Issue, the Share Issuance Programme and Admission were duly passed.


Result of Issue

The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the results of the Placing, Open Offer and Offer for Subscription of Ordinary Shares (the "Issue"). The Issue has raised its maximum targeted gross proceeds of £150 million and was oversubscribed.

A total of 145,631,068 Ordinary Shares will be issued at a price of 103 pence per Ordinary Share, of which 66,868,173 Ordinary Shares will be issued pursuant to the Open Offer, 23,118,854 Ordinary Shares will be issued pursuant to the Offer for Subscription and 55,644,041 Ordinary Shares will be issued under the Placing. All valid applications under the Open Offer (including Excess Applications) have been met in full and a scaling back exercise has been undertaken with respect to applications received pursuant to the Placing and the Offer for Subscription.

The net proceeds of the Issue will be used to invest further in UK Big Box assets, diversifying the Company's Portfolio, providing strategic flexibility and capitalising on the Company's leading position in the UK Big Box market.

Jefferies International Buy 105.25 105.25 114.00 115.00 Reiterates

Tritax Big Box REIT plc (LSE: BBOX), the real estate investment trust, will announce its interim results for the period to 30 June 2014 on Thursday, 28 August 2014.

A presentation to analysts will take place at 8.00am on the day at Newgate Communications, Sky Light City Tower, 50 Basinghall Street, London EC2V 5DE.

Those wishing to attend are kindly asked to contact James Benjamin/ Clotilde Gros/ Georgia Lewis at Newgate Communications on tritax@newgatecomms.com or by telephone on +44 (0) 20 7680 6550.

ACQUISITION OF THE DHL DISTRIBUTION WAREHOUSE

The Board of Tritax Big Box REIT plc (LSE: BBOX) is pleased to announce that it has exchanged contracts on the DHL Supply Chain Ltd ("DHL") warehouse at Skelmersdale, Lancashire for a purchase price of £28.87 million (net of acquisition costs), reflecting a net initial yield of 6.5% on the asset acquisition, assuming 6.6% purchase costs. Completion is expected to take place on 27 August 2014. The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

Skelmersdale is strategically located approximately one mile from Junction 4 of the M58 motorway and five miles from Junction 6 of the M6. The Port of Liverpool is approximately 14 miles away, where construction is underway on a new container port, which will be capable of bringing some of the world's largest container ships into the North West region.

The unit was originally constructed in 2003 and comprises a highly specified and fully fitted distribution facility with ancillary offices and extensive car parking over approximately 29.5 acres, with a rentalised area of 471,968 sq ft, thereby representing a low site cover of 36%. The warehouse has an eaves height of 12.75m.

The Skelmersdale distribution warehouse is being acquired from DHL with a new 10 year leaseback agreement, which is subject to five yearly open market rent reviews, and a current passing rent of approximately £2.0 million per annum (£4.25 per sq ft). The next rent review is due in August 2019. DHL has committed to significant capital expenditure to fit the unit out in order to fulfil a new distribution contract, which will also operate as a multi contracted facility.

INTERIM RESULTS

Financial highlights:
· The Company's IPO in December 2013 (the "IPO") raised gross proceeds of £200.0 million at an issue price of 100 pence per share. The Company's shares were admitted to the Specialist Fund Market of the London Stock Exchange ("SFM") and to the Channel Islands Stock Exchange Authority Limited ("CISEA") on 9 December 2013.
· A follow-on equity fundraising in June 2014 raised an additional £20.8 million at an issue price of 104 pence per share.
· An interim dividend of 1.85 pence per share in respect of the period from 1 November 2013 to 30 June 2014 was declared on 8 July 2014 and paid on 8 August 2014.
· The Group's investment properties were independently valued on 30 June 2014 at £360.7 million, representing an increase of approximately 4.6% above the aggregate acquisition price (excluding acquisition costs).
· The unaudited Net Asset Value ("NAV") per share increased from 98.0 pence at the time of the IPO to 101.85 pence as at 30 June 2014, an increase of 3.9%.
· Loan to value ("LTV") ratio of 43.0% as at 30 June 2014 with long-term debt drawn in the period of £155.23 million.
· Aggregate debt margin across the portfolio of approximately 1.75% over 3 month LIBOR. Interest rate cap instruments utilised to limit cost of debt.

Operational highlights:
· Net IPO proceeds and follow-on equity fundraising proceeds fully invested within approximately six months, in line with the Company's stated target at launch. Over the period, the Group acquired six Big Box assets in prime logistics locations across the UK.
· Diverse covenant spread with all properties leased to institutional-grade tenants, with regular upward-only rent reviews.
· Weighted average unexpired lease term across the portfolio of over 16 years.
· High calibre of tenants, all part of a FTSE 100 group.
· Full occupancy of the portfolio for the 2013/14 period.

Post Balance Sheet highlights:
· Additional £150.0 million of gross proceeds raised in July 2014 pursuant to an oversubscribed Placing, Open Offer and Offer for Subscription of new shares at an issue price of 103 pence per share. Listing moved from the SFM to the premium listing segment of the FCA's Official List and to trading on the Main Market of the London Stock Exchange.
· £46.4 million of proceeds from July 2014 Placing, Open Offer and Offer for Subscription have been invested in a further two Big Box assets.

ACQUISITION OF WOLSELEY DISTRIBUTION CENTRE

The Board of Tritax Big Box REIT plc (LSE: BBOX) is pleased to announce that it has acquired the Wolseley Regional Distribution Centre ("RDC") at Ripon, North Yorkshire for a purchase price of £12.24 million (net of acquisition costs), reflecting a net initial yield of 6.73% on the corporate acquisition, assuming 1.8% costs. The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

ACQUISITION OF THE RANGE, NIMBUS PARK, THORNE, DONCASTER FOR £48.5 MILLION

Trading Update

The Board of Tritax Big Box REIT plc (ticker: BBOX), the UK incorporated Real Estate Investment Trust focused on investing in Big Box logistics assets in the UK, is issuing this trading update statement for the period from 1 July 2014 to 12 November 2014.

HIGHLIGHTS

· Raised £150 million of gross proceeds in July 2014 pursuant to an oversubscribed Placing, Open Offer and Offer for Subscription of new ordinary shares at an issue price of 103 pence per share

· Trading moved from the Specialist Fund Market to the Main Market of the London Stock Exchange and the Company was listed on the premium listing segment of the FCA's Official List

· Market capitalisation now approximately £400 million; included in the FTSE UK All Share Index from September 2014

· Unaudited Net Asset Value per share increased from 101.85 pence as at 30 June 2014 to 102.60 pence as at 31 October 2014, an increase of 0.74%

· Interim dividend of 1.85 pence per share in respect of the period from IPO to 30 June 2014 declared on 8 July 2014 and paid on 8 August 2014

· Target dividend of 2.3 pence per share for the six months ending 31 December 20141Four Big Box assets acquired during the period in prime logistics locations across the UK let to institutional-grade tenants for a total investment of approximately £107.1 million

· Additional forward funding development completed on a new logistics facility pre-let in its entirety to Rolls-Royce Motor Cars Limited for an investment price of £37 million

· Property portfolio independently valued as at 31 October 2014 at £516.1 million2

· Weighted average unaudited net initial yield (at acquisition and net of costs) of the Group's eleven properties of 6.00%

· Weighted average unexpired lease term across the portfolio of 14.9 years

· Aggregate borrowings of 34.8% of gross assets with current long term debt of £179.48 million3

· Weighted average term to maturity of Group debt facilities of 4.3 years with options to extend in each case

· Several new loan facilities at advanced stages of negotiation in line with a medium term loan to value target of 40%

· Blended margin payable across the Company's financings to date of approximately 1.77% above three month LIBOR3

· Portfolio performing in line with management expectations with 100% occupancy during the period

· Strong pipeline of attractive new investment opportunities under active negotiation

1. This is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's expected or future results.
2. Including The Range, Doncaster at purchase cost.
3. Based on valuations as at 31 October 2014 and including the acquisition of The Range, Doncaster with associated completion and drawdown of its loan facility.

Dividend Declaration

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 July 2014 to 31 October 2014 of 1.5 pence per Ordinary Share, payable on or around 17 December 2014 to Shareholders on the register on 28 November 2014. The ex-dividend date will be 27 November 2014. This interim dividend will be a Property Income Distribution ("PID"). The Directors have decided not to offer a scrip alternative in connection with this interim dividend.

PROPOSED PLACING

Further to the statement made by Tritax Big Box REIT plc (the "Company") on 13 November 2014 as part of the Company's Trading Update, the Board of Directors is pleased to announce that it intends to proceed with an institutional placing (the "Placing") of new ordinary shares (the "Placing Shares") at a price of 105 pence per share (the "Placing Price"). The Placing will comprise the initial tranche of the Company's Share Issuance Programme announced on 8 July 2014.

As noted in the Trading Update, the Company is currently in advanced negotiations in relation to the acquisition of three additional assets, each of which is under offer and in exclusivity and will be funded by the balance of the equity proceeds raised in July 2014.

In addition, the Manager is engaged in detailed discussions with the current owners of a number of other suitable assets available for potential acquisition in the near term. Such assets are generally greater than 500,000 sq. ft. in size, on long-term leases and with inflation linked rental uplifts. Accordingly the Company is seeking to raise additional equity via the Placing with a target fundraising size of up to £110 million.

The Board believes that the Placing will have the following principal benefits for Shareholders:

· the net proceeds of the Placing will be used to invest further in UK Big Box assets, diversifying the Company's portfolio, providing strategic flexibility and capitalising on the Company's leading position in the UK Big Box market;

· the Placing and the Share Issuance Programme allows the Company to tailor future equity issuance to its immediate pipeline, providing flexibility and minimising cash drag;

· the Placing is expected to be Net Asset Value accretive for existing Shareholders (net of fees and expenses associated with the Placing);

· an increase in the size of the Company should enhance the marketability of the Company's ordinary shares and result in a broader investor base over the longer term; and

· an increase in the size of the Company will spread its fixed operating expenses over a larger issued share capital.

The Directors and the Manager are confident that the net proceeds of the Placing will be substantially invested or committed by February 2015.

The Placing Price reflects a 3.4 per cent. discount to the closing price of 108.75 pence per ordinary share on 19 November 2014.

The Placing Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid (but not the second interim dividend of 1.5 pence per ordinary share declared today in respect of the period from 1 July 2014 to 31 October 2014).

The Company is currently targeting a third interim dividend of 0.8 pence per ordinary share for the two month period ending 31 December 20141. In addition, the Company confirms that it is targeting a dividend of not less than 6.0 pence per ordinary share for the year ending 31 December 20151.

ACQUISITION OF DISTRIBUTION WAREHOUSE MANCHESTER

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts on the Tesco distribution warehouse in Touchet Hall Road, Middleton, Manchester for £22.45 million (net of acquisition costs), reflecting a net initial yield of 8.25%, assuming 5.8% standard costs of purchase. Completion is expected to take place on 2 December 2014. The purchase, which was off-market, has been funded out of equity proceeds.

The distribution warehouse is situated on Stakehill, an established 200 acre industrial estate providing 2.5 million sq ft of logistics space and employing 2,500 people, just to the east of Junction 20 of the M62. Manchester is approximately 8 miles to the east, and Liverpool 42 miles to the west. The industrial estate is home to a critical mass of occupiers including Sainsbury, Aldi, Booker and several third party logistics operators such as Bibby, Yodel and NFT Distribution.

The facility provides a rentalised area totalling 301,479 sq ft with a very low site cover of 31%. The unit was constructed in 1988 and has an eaves height of approximately 12 metres. The property, which is currently unoccupied, is leased to Tesco Stores Limited, for an unexpired term of approximately 9.2 years, with two further rent reviews in December 2017 and 2022.


RESULT OF PLACING

The Board of Directors of Tritax Big Box REIT plc (the "Company") is pleased to announce that the placing of new ordinary shares announced on 20 November 2014 (the "Placing") has raised its maximum targeted gross proceeds of £110 million and was oversubscribed.

A total of 104,761,904 new ordinary shares will be issued at a price of 105 pence per share (the "Placing Shares"). The Placing forms part of the Company's Share Issuance Programme.

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ACQUISITION OF TWO DISTRIBUTION CENTRES

ACQUISITION OF TWO DISTRIBUTION CENTRES FOR A COMBINED TOTAL OF £55.1 MILLION,
LOCATED IN DOVE VALLEY PARK, DERBY AND TRAFFORD PARK, MANCHESTER

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts to acquire two distribution centres located in Dove Valley Park, Derby and Trafford Park, Manchester for a combined purchase price of £55.1 million (net of acquisition costs). The two purchases represent a blended net initial yield of 6.53%, assuming 5.8% purchase costs. Completion of both purchases is expected to take place by 12 December 2014.

more..

FINANCING OF DISTRIBUTION WAREHOUSE IN MELMERBY

Further to the acquisition of the distribution warehouse in Melmerby, near Ripon, North Yorkshire let to Wolseley UK announced on 1 September 2014, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has signed an agreement with Santander UK plc to provide £5.5 million of senior debt financing secured on the asset. This reflects a loan to value ratio of approximately 43.4%.

The debt financing for the distribution warehouse is for a term of five years. The blended margin payable across the Company's financings to date is approximately 1.76% above three month LIBOR. Following drawdown of the loan, the Group's aggregate borrowings will be 34.0% of the Group's gross assets.

New high @111.50p earlier.

Pre-let development of Ocado facility

A NEW BIG BOX LOGISTICS FACILITY DEVELOPMENT WITHIN THE M25
FOR OCADO
The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts (conditional on detailed planning consent) to provide forward funding for a new distribution warehouse facility located inside the M25 at Crossdox, Bronze Age Way, Erith, pre-let in its entirety to a subsidiary of Ocado Group Plc ("Ocado"). The investment price is £98.8 million, reflecting a yield of 5.25% (net of standard acquisition costs).

The site is located in a core south east location inside the M25 (J 1A) on the south side of the River Thames and A2016, with Central London approximately 12 miles to the West and Tilbury Docks and DP World container port to the East. It will also benefit from excellent access to the wider motorway network including Greater London and the Home Counties.

Ocado has signed an agreement to lease, conditional upon detailed planning, for a new 30 year lease, without break, subject to five yearly rent reviews indexed to RPI (capped and collared). During the construction phase, the Company will receive an income return from the developer.

The 35 acre site will be the location of an important South East logistics hub for Ocado to help fulfil its growing capacity needs in London and the South East. The investment will comprise a new distribution warehouse, with a gross internal area of approximately 560,000 sq ft, reflecting a site cover of c. 45%. The development is being undertaken by Bericote Properties.

Completion of the investment purchase is expected to take place in the spring of 2015 when construction of the main works will commence, with practical completion of the developer's base build targeted for the summer of 2016. The purchase will be funded by the Company out of equity with senior debt finance expected to be introduced in the near term.

Ocado has an option to introduce a third party joint guarantor to the lease on the later of 30 April 2015 and the date of grant of detailed planning consent, which, if exercised, would result in a reduction in the lease length from 30 to 25 years, a lower rent receivable and an increase to the investment price to £99.9 million.

FINANCING OF DOVE VALLEY PARK DISTRIBUTION CENTRE

FINANCING OF DISTRIBUTION CENTRE LOCATED IN DOVE VALLEY PARK, DERBY LEASED TO KUEHNE & NAGEL LIMITED

Further to the acquisition of the distribution centre in Dove Valley Park, Derby announced on 8 December 2014, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has drawn on senior debt financing secured on the asset. This facility had previously been agreed with Barclays Bank PLC to the value of £13.2 million, reflecting a loan to value ratio of approximately 43.2%.

The debt financing for the distribution centre is for a term of four years, with an option to extend the term of the loan by up to one further year, exercisable prior to the end of year one, resulting in a maximum term of five years.

The blended margin payable across the Company's financings to date is approximately 1.76% above three month LIBOR. Following drawdown of the loan, the Group's aggregate borrowings will be 35.1% of the Group's gross assets.

Final Results

Financial highlights:
· The IPO in December 2013 raised gross proceeds of £200 million at an issue price of 100 pence per share. In July 2014, the Company's shares moved to a premium listing and trading on the London Stock Exchange Main Market.

· Further equity fundraisings in May, July and November 2014 raised a total of more than £280 million, at issue prices of between 103 and 105 pence per share.

· We paid the first interim dividend of 1.85 pence per share in August 2014, for the period to 30 June 2014, and the second interim dividend of 1.50 pence per share in December 2014, for the period from 1 July to 31 October 2014. A third interim dividend of 0.80 pence per share will be payable in March 2015, for the period from 1 November to 31 December 2014. In 2015, we are on track to achieve our initial target dividend on the IPO issue price of 6 pence per share.

· The properties were independently valued as at 31 December 2014 at £619.28 million (including forward funded commitments), an uplift of 9.3% over the aggregate acquisition price (excluding acquisition costs).

· The net asset value ("NAV") per share increased from 98.00 pence at the time of the IPO to 107.02 pence as at 31 December 2014, a rise of 9.2%.

· Annualised rent roll as at 31 December 2014 of £36.16 million including forward funded commitments.

· Our loan to value ("LTV") ratio was 32.9% as at 31 December 2014, with long-term debt drawn at the period end of £203.64 million.

· The average debt margin payable across the portfolio is 1.76% over 3-month LIBOR; we have used interest rate caps to limit our exposure to interest rate increases.


Operational highlights:
· The net proceeds from the IPO and the equity fundraisings in May and July 2014 were fully invested, on time and in line with our stated objectives. During the period, we acquired 14 Big Box assets let to some of the UK's largest retailers, global logistics companies and renowned manufacturers.

· The properties in our portfolio are in strong distribution locations and provide UK geographic diversification.

· We benefit from a diverse covenant spread, with all properties leased to institutional-grade tenants.

· Our weighted average unexpired lease term across the portfolio was 13.9 years as at 31 December 2014.

· Our portfolio was fully let or contracted and income producing during the period.


Post Balance Sheet highlights:
· In January 2015 we exchanged contracts, subject to detailed planning consent, to provide £98.8 million of forward funding for a new distribution warehouse pre-let to Ocado, Erith.

· In February 2015, we drew a further £13.17 million of senior debt with a term to maturity of four years, hedged via a coterminous swap.

Dividend Declaration

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 November 2014 to 31 December 2014 of 0.8 pence per Ordinary Share, payable on or around 18 March 2015 to Shareholders on the register on 6 March 2015. The ex-dividend date will be 5 March 2015. This interim dividend will be a Property Income Distribution ("PID"). The Directors have decided not to offer a scrip alternative in connection with this interim dividend.

Watch: Tritax Presentation - Results for the fourteen month period ended 31 December

click here

Jefferies International Buy 111.75 111.75 115.00 123.00 Reiterates

New high @114p - ex dividend this Thursday @0.8p.

Dividend Declaration

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 January 2015 to 28 February 2015 of 1.0 pence per ordinary share, payable on or around 22 April 2015 to shareholders on the register on 20 March 2015. The ex-dividend date will be 19 March 2015. This interim dividend will be a Property Income Distribution ("PID"). The Directors have decided not to offer a scrip alternative in connection with this interim dividend.


Proposed Issue of Equity

Further to the statement made by Tritax Big Box REIT plc (the "Company") on 23 February 2015 as part of the Company's Full Year Results, the Board of Directors is pleased to announce that it intends to proceed with an institutional placing (the "Placing") and offer for subscription (the "Offer for Subscription") of new ordinary shares (the "New Shares") at a price of 110 pence per share (the "Issue Price") (the "Issue"). The Issue will comprise the second tranche of the Company's share issuance programme of up to 350 million new Ordinary Shares valid until 7 July 2015 (the "Share Issuance Programme") announced on 8 July 2014.

An updated securities note (the "Securities Note") and summary (the "Summary") containing full details of the Issue are expected to be published later today. The Securities Note and Summary, together with the registration document published on 8 July 2014 (as supplemented by the supplementary prospectus dated 23 February 2015), will form the prospectus (the "Prospectus") in relation to the Issue. The Issue will comprise a further tranche under the Share Issuance Programme, under which the Company has already issued 104,761,904 ordinary shares (the "Ordinary Shares") through a placing which closed in November 2014.


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RESULT OF PLACING AND OFFER FOR SUBSCRIPTION

The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the results of the Placing and Offer for Subscription of Ordinary Shares (the "Issue").

Investor demand for the Issue has significantly exceeded the targeted size of £150 million. The Board, after careful consideration with the Manager and in consultation with Jefferies International Limited ("Jefferies"), has exercised its right to increase the size of the Issue to £175 million. As a result, a total of 159,090,909 Ordinary Shares will be issued at a price of 110 pence per Ordinary Share, of which 141,646,051 Ordinary Shares will be issued under the Placing and 17,444,858 Ordinary Shares will be issued pursuant to the Offer for Subscription.

The net proceeds of the Issue will be used to invest further in UK Big Box assets, with the Manager currently in advanced negotiations for the acquisition of three additional assets, each of which is under offer, in solicitors' hands and subject to exclusivity arrangements. In addition, the Manager is engaged in detailed discussions with the owners of a number of other suitable assets that meet the Company's Investment Policy.

Notice of EGM

Blackrock < 5%

A new high today @117.25.

Disposal

LONDONMETRIC SELLS HARLOW
DISTRIBUTION FACILITY FOR £37.2 MILLION

LondonMetric Property Plc ("LondonMetric" or "Company" or "Group") announces that it has exchanged on the sale of the 268,000 sq ft Brake Bros Ltd. distribution facility in Harlow to Tritax Big Box REIT plc for £37.2 million (LondonMetric's share: £18.6 million).

The property, which was built in 1989, is owned in a 50:50 joint venture between LondonMetric and Green Park and was acquired in August 2011 for £22.9 million. Last year, LondonMetric accepted a surrender of the 16.8 acre site from Tesco and completed the re-letting to Brake Bros Ltd. on a new 25 year lease subject to RPI uplifts of between 0 - 5.0% pa every 5 years.

The current passing rent is £1.8 million pa which will be 'topped' up to the next rent review, reflecting a 5.0% NIY to the purchaser.

Following this disposal, LondonMetric's distribution portfolio (including developments) totals £598.1 million in 22 distribution centres with a WAULT of 14.4 years and with 51.0% of income subject to fixed uplift or RPI increases. The distribution portfolio is now the Group's largest sector representing over 45% of the total portfolio.

Acquisition of Brake Bros Distribution Centre

ACQUISITION OF BRAKE BROS LTD DISTRIBUTION CENTRE, FLEX MEADOW, HARLOW FOR £37.2 MILLION
The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts on a regional distribution centre at Flex Meadow, Harlow, let to Brake Bros Ltd ("Brake Bros"), for a purchase price of £37.2 million (net of acquisition costs), which reflects a net initial yield of 5.0%. The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term. Completion is expected to take place in June 2015.

The asset is strategically positioned in a core South East location, close to the M11, the M25 and Central London, providing distribution reach across the South East. It is currently undergoing a comprehensive refurbishment programme (fully financed by the tenant) and comprises a rentalised area of approximately 268,000 sq. ft., a low site cover of 37%, and features cross dock loading and a temperature controlled environment.

It is being acquired from LondonMetric Property Plc with an unexpired lease term of approximately 24.5 years, subject to five yearly upward only rent reviews indexed to RPI, and capped at 5% p.a. compound.

ACQUISITION OF ARGOS REGIONAL DISTRIBUTION CENTRE

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts on the Argos Regional Distribution Centre at Heywood Distribution Park, Heywood, Manchester for a purchase price of £34.1 million (net of acquisition costs), reflecting a net initial yield of 5.3% on the asset purchase. The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term. Completion is expected to take place on 29 April 2015.

Developed in 1998 for Argos, this high specification facility incorporates design features such as cross docking, has an eaves height of 15.2 metres and comprises a rentalised area of approximately 381,106 sq ft., with a low site cover of 46%.

The Heywood Distribution Park is strategically located on the A58 trunk road linking Leeds and Manchester. It is approximately seven miles north of Manchester city centre and junction 18 of the M62 motorway is two miles to the south, providing good access to the North-West of England and the wider trans-Pennine motorway network.

The Argos Distribution Centre is being acquired with an unexpired lease term of approximately 13 years, subject to five yearly open market rent reviews. The next review is due in 2018.

ACQUISITION OF THE B&Q DISTRIBUTION CENTRE

CQUISITION OF THE B&Q CORE PRODUCTS REGIONAL DISTRIBUTION CENTRE, WORKSOP, NOTTINGHAMSHIRE FOR £89.75 MILLION
The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has acquired the B&Q Core Products Regional Distribution Centre at Worksop, Nottinghamshire for a purchase price of £89.75 million (net of acquisition costs), reflecting a net initial yield of 5.13% on the corporate acquisition. The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

Constructed in 2005 for B&Q, the property is of a high specification and incorporates modern design features including cross docking, eaves height of between 14 and 24 metres, a fully automated racking system and the potential for rail freight connectivity. The current total floor area extends to 875,350 sq ft, reflecting an exceptionally low site cover of 24%. Planning consent is in place to increase the facility to a total of 1.1 million sq ft, facilitating future expansion for the tenant.

The Regional Distribution Centre is being acquired with an unexpired lease term of approximately 16.5 years, which is subject to five yearly rent reviews to the higher of the Open Market Rent or the Retail Price Index (capped at 5%). The next review is due to be in November 2016.

Worksop, Nottinghamshire is well located in the East Midlands with the facility positioned adjacent to the A57 which links directly to both the A1 to the East and M1 (J30) to the West.

FINANCING OF ASSET PRE-LET TO ROLLS-ROYCE

Further to the announcement on 29 September 2014 that the Company had exchanged contracts to forward fund the development of a new logistics asset located near Bognor Regis, West Sussex, pre-let in its entirety to Rolls-Royce Motor Cars Limited, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has drawn on senior debt financing secured on the asset. This facility has been agreed with Barclays Bank PLC to the value of £14.8 million, reflecting a loan to value ratio of approximately 39.5%.

The debt financing is for a term of five years. The facility will commence as a development term facility which converts into an investment term facility at the point of practical completion of the building, which is targeted for the spring of 2016.

The blended margin payable across the Company's financings post practical completion will be approximately 1.76% above three month LIBOR.

ACQUISITION OF NEW LOOK DISTRIBUTION CENTRE

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts on one of the two adjoining New Look Retailers Ltd ("New Look") National and European Distribution Centres at Lymedale Business Park, Newcastle-under-Lyme for a purchase price of £30.05 million (net of acquisition costs), reflecting a net initial yield of 5.9% on the corporate acquisition. The purchase will be funded from equity proceeds, with senior debt finance expected to be introduced in the near term. Completion is expected to take place by 6 May 2015.

Pre-let development of Nice-Pak facility

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged and completed contracts to provide forward funding for the development of a new distribution and production facility, pre-let in its entirety to Nice-Pak International Limited ("Nice-Pak"), a leading manufacturer and supplier of wet wipes globally. The investment price is £28.66 million, reflecting a yield of 6.42% (net of land acquisition costs).


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Financing of B&Q Regional Distribution Centre

Further to the announcement on 29 April 2015 that the Company had acquired the B&Q Regional Distribution Centre at Worksop, Nottinghamshire, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has drawn on senior debt financing secured on the asset. This facility has been agreed with Barclays Bank PLC to the value of £40.38 million, reflecting a loan to value ratio of 45% at the asset level.

The debt financing for the distribution centre is for a term of five years, with an option to extend the term of the loan by up to one further year, exercisable prior to the end of year one, resulting in a maximum term of six years.

Post drawdown the blended margin payable across the Company's financings is approximately 1.77% above three month LIBOR and the loan to value ratio across all assets stands at approximately 33%.

ACQUISITION OF TESCO REGIONAL DISTRIBUTION CENTRE, CAPITOL PARK, GOOLE FOR £47.1 MILLION

DIVIDEND DECLARATION

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 March 2015 to 31 May 2015 of 1.5 pence per ordinary share, payable on or around 15 July 2015 to shareholders on the register on 19 June 2015. The ex-dividend date will be 18 June 2015.

This interim dividend will be a Property Income Distribution ("PID"). The Directors have decided not to offer a scrip alternative in connection with this interim dividend.

The Company is targeting an aggregate dividend of 6.0 pence per ordinary share for the year ending 31 December 2015.

Pre-let development of Dunelm facility

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has completed the land purchase and entered into contracts to provide forward funding for the development of a new distribution warehouse facility, pre-let in its entirety to Dunelm (Soft Furnishings) Ltd, the UK's number one homewares retailer.The investment price is £43.43 million, reflecting a yield of 5.47% (net of land acquisition costs).

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More for the big boys :-(

Proposed Placing

The Board of Directors is pleased to announce that it intends to proceed with an institutional placing (the "Placing") of new ordinary shares (the "Placing Shares") at a price of 113 pence per share (the "Placing Price"). The Placing will comprise the final tranche of the Company's share issuance programme valid until 7 July 2015 (the "Share Issuance Programme") under which 86,147,187 ordinary shares remain available for issue. The Board intends to combine the available balance of the Share Issuance Programme with the Company's general authority to issue shares for cash on a non-pre-emptive basis (the "General Authority") with a target fundraising size of up to £125 million1. The Placing Shares to be issued under the General Authority will be issued on the same terms as the Placing Shares to be issued under the Share Issuance Programme.

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FINANCING OF ASSET PRE-LET TO OCADO

Further to the announcement on 29 January 2015 that the Company had exchanged contracts to forward fund the investment of a new distribution warehouse facility located inside the M25 at Crossdox, Bronze Age Way, Erith, pre-let in its entirety to a subsidiary of Ocado Group Plc, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has agreed senior debt financing secured on the asset. This facility has been agreed with Landesbank Hessen-Thüringen Girozentrale ("Helaba") to the value of £50.866 million, reflecting a loan to value ratio of approximately 50%.

The facility has a five year term with an option to extend this to a maximum of six years exercisable before the second anniversary of the facility, subject to lender consent. To efficiently match the terms of the forward funding contract, the facility has been structured to provide a twelve month loan to facilitate the construction period which will automatically convert into an investment loan for the remainder of the term at the point of practical completion of the building, targeted for the summer of 2016.

Including this loan, the blended margin payable across the Company's financings post practical completion will be approximately 1.70% above three month LIBOR.

Tritax Big Box REIT plc (ticker: BBOX), the only real estate investment trust giving pure exposure to very large logistics warehouse assets in the UK, will announce its interim results for the six months ended 30 June 2015 on Friday, 21 August 2015.

A new high @119p.

Toying with the highs again.

And again @119.50p

Interim Results

Financial highlights
· Our investment properties were independently valued at £1.09 billion as at 30 June 2015 (including forward funded commitments), representing an increase of £114.80 million or 11.7% over the aggregate acquisition price (excluding acquisition costs).

· The portfolio's contracted rental income has increased to £58.87 million per annum (30 June 2014: £20.84 million), including forward funded assets.

· Dividends declared in relation to the six months ending 30 June 2015 (the "period") totalled 3.0 pence per share, putting us on track to meet our stated 6.0 pence per share target for 2015.

· Total return for the six month period of 10.71% compared to our target of 9% per annum for the medium term.

· We raised an additional £229 million of equity during the period, issuing 159.09 million new shares at an issue price of 110 pence per share in March 2015, and a further 47.79 million new shares at an issue price of 113 pence per share in June 2015, pursuant to the Company's share issuance programme which expired on 7 July 2015.

Operational highlights
· We acquired eight Big Boxes during the period, three of which were forward funded pre-let investments, expanding the portfolio to 22 assets. The acquisitions further diversified the portfolio both by geography and by tenant.

· The weighted average unexpired lease term across the portfolio is 15.77 years, which compares well to our target of at least 12 years.

· The average net initial yield of the portfolio at acquisition is 5.8% against our period end valuation of 5.1% net initial yield.

· The total expense ratio for the period was 0.50%, down from 0.71% for the period from 1 January 2014 to 30 June 2014, which compares favourably with our real estate peers.

· Our portfolio was fully let or pre-let and income producing during the period.

· The Company's shares were included in the FTSE EPRA/ NAREIT Global Developed Index from 23 March 2015 and the FTSE 250 Index from 8 June 2015, helping to attract new investors and support liquidity in the shares.

· Growth of the portfolio to provide a total of over 11 million sq ft of logistics space forming the portfolio.

Post Balance Sheet highlights
· In July 2015 a new five year loan facility totalling £50.87 million was agreed with Landesbank Hessen- Thüringen Girozentrale ("Helaba") to finance the forward funded investment pre-let to Ocado in Erith.

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Stockwatch: A safe haven with a 5% yield

Pre-let development of Howden Joinery facility

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged conditional contracts to acquire the land and provide forward funding for the development of a new distribution warehouse facility, pre-let in its entirety to Howden Joinery Group Plc ("Howdens"), the parent group of the UK's leading supplier of kitchens and joinery. The investment price is £67.0 million, reflecting a net initial yield of 5.03% (net of land acquisition costs).

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A new high @124.50p.

And again @125p.

Issue of Ordinary Shares under the Investment Management Agreement and PDMR Shareholdings

Jefferies International Buy 0.00 125.00 123.00 136.00 Reiterates

Pre-let development at Knottingley, Wakefield

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has completed the land purchase and entered into contracts to provide forward funding for the development of a new regional distribution facility, pre-let in its entirety to TJX UK ("TK Maxx"), a major retailer of branded apparel and home fashions in the UK and Ireland. The investment price is £59.00 million, reflecting a yield of 5.32% (net of land acquisition costs).


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From the 18th - Jefferies International Buy 130.45 136.00 140.00 Reiterates

A new high @130.80p.

ACQUISITION OF MATALAN RETAIL LTD NORTHERN DISTRIBUTION CENTRE AT KNOWSLEY BUSINESS PARK, LIVERPOOL FOR £42.38 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has completed the purchase of the Matalan Retail Limited ("Matalan") Northern Distribution Centre at Knowsley Business Park in Liverpool, for a purchase price of £42.38 million (net of acquisition costs), reflecting a net initial yield of 6.27% on the corporate acquisition. The purchase will be funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

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PRE-CLOSE UPDATE

The Board of Tritax Big Box REIT plc (ticker: BBOX) announces this trading update as it enters the close period for the year ending 31 December 2015. This statement provides an update on investment activity, portfolio performance and market conditions.

PORTFOLIO HIGHLIGHTS

· £1,261 million (net of acquisition costs)1 invested in 25 Big Box assets let to 21 tenants

· 20 standing assets and five pre-let forward funded developments with a combined floor space of 13.0 million sq. ft. (of which 2.8 million sq. ft. is under construction)

· 11 new investments made in 2015

· 81% of assets acquired off-market with average purchase yield of 5.8%

· Current weighted average unexpired lease term across the portfolio of 16.7 years

· Portfolio 100% let with contracted annual rental income of £68.2 million2 as at 16 December 2015

· All leases provide for upward only rent reviews, of which 52% are open market, 23% are fixed uplift and 25% are RPI linked

· High quality institutional grade tenant mix with strong financial covenants - 84% of tenants are listed PLCs (69% in the FTSE 100 or FTSE 250)

· Forward funded development pre-let to Rolls Royce-Motor Cars Limited at Bognor completed on schedule and on budget in September 2015

· Engaged with multiple tenants on asset management initiatives

· Market rental growth expected to remain robust in 2016

· Strong pipeline of attractively priced, off-market investment opportunities identified

1 as at 30 June 2015 valuation plus acquisition price for subsequently acquired properties
2 including forward funded assets

FINANCIAL HIGHLIGHTS

· 3.0p per share dividend paid for the six months ended 30 June 2015; targeting fully covered aggregate dividend of 6.0p per share for the year ending 31 December 2015

· Share price total return of 20.9% over 2015 YTD and 35.7% since IPO in December 20133

· Low cost base with 2015 target total expense ratio of 1.1%

· £569.5 million of committed debt financing in place of which £375.1 million is currently drawn (34% LTV)

· Weighted average term to maturity of debt facilities of 4.7 years, increasing to 6.4 years with extension options

· Current blended margin payable of 1.42% above three month LIBOR

· Borrowing costs on current drawn debt capped at an all-in rate of 2.94% using interest rate caps which run coterminous with each facility

· Market capitalisation of £856 million3; FTSE 250, FTSE EPRA/NAREIT and MSCI index constituent

3 Source: Bloomberg, to 16 December 2015 respectively, based on closing share price of 126.3p

Colin Godfrey, Partner of Tritax, said:

"2015 has been another significant year of development for the Company with 11 new investments creating an increasingly diversified and high quality portfolio, a new five year £500 million debt facility secured on attractive terms and offering substantial operational flexibility and strong share price performance underpinned by the long term, income-focused nature of the Company's real estate assets.

As we look forward to 2016, we believe the imbalance between supply and demand of Big Box assets is a theme which will continue to dominate the logistics sector driving further market rental growth."

DIVIDEND POLICY

Since the IPO, the Board has targeted an initial annual dividend yield (on a fully invested and geared basis) of 6% by reference to the IPO issue price of 100 pence. With effect from 1 January 2016 the Directors intend to adopt a progressive dividend policy and expect to provide guidance to investors in this regard during Q1 2016. Dividends are expected to be fully covered by earnings from the Company's portfolio.

MARKET CONDITIONS AND OUTLOOK

The UK has one of the greatest warehouse space requirements in Europe driven by the strong economic outlook and the growth in internet sales which are expected to represent 19% of total retail sales by 2019, up from 13% in 2014 (source: eMarketer). Meanwhile, logistics availability in the UK has been decreasing since 2009 with the supply of speculatively developed Big Box assets extremely limited. As far as the Company's investment manager is aware, no Big Box assets of 500,000 sq. ft. or above are currently being developed speculatively.

Prime logistics yields have compressed by approximately 75 basis points since the Company's IPO in December 2013 and currently stand at approximately 5.0% with the potential for further compression in 2016 given the imbalance between supply and demand which is unlikely to be rectified in the short to medium term.

As a result of growing occupier demand and constrained occupational supply, strong rental growth has been evidenced during the last 18 months and is expected to continue through 2016 with the Company well placed to capture market rental growth given the profile of rent reviews across the portfolio.

Are you holding this one skinny? Seems pretty steady in an uncertain world and divi seems attractive.

Harry - yes, I've held for 2 years @100.95p

Trading Update

The Board of Tritax Big Box REIT plc (ticker: BBOX) announces an unaudited estimated EPRA Net Asset Value per ordinary share as at 31 December 2015 of approximately 124.5 pence (the Company's unaudited basic Net Asset Value per ordinary share is estimated to be approximately 124.0 pence as at the same date).

This represents an increase of approximately 15.7% as compared to the audited EPRA Net Asset Value as at 31 December 2014 of 107.6 pence and a total return1 of approximately 19.2% over the period, significantly in excess of the Company's medium term target of 9% per annum. The total shareholder return2 over the period was 24.1%.

The Board expects to declare a fully covered 3.0 pence per share dividend for the six months ended 31 December 2015, representing an aggregate dividend of 6.0 pence per share for the year ended 31 December 2015.

The Board has adopted a progressive dividend policy and intends to target a dividend of 6.2 pence3 for the year ending 31 December 2016, representing a rise of 3.3% compared to the total dividend expected to be declared for 2015 and in excess of the rate of RPI inflation over the period from the Company's IPO in December 2013 to 31 December 2015. Dividends are expected to be fully covered by adjusted earnings4 from the Company's portfolio.

The Company will publish its audited annual results for the year ended 31 December 2015 in March 2016.

The Board of Directors (the “Directors”) of Tritax Big Box REIT plc (ticker: BBOX) announces a Placing, Open Offer and Offer for Subscription of new ordinary shares of the Company (the “New Shares”) at a price of 124 pence per New Share (the “Issue Price”) (the “Issue”).
The Company expects to use the net proceeds of the Issue to acquire further investments. In this regard, Tritax Management LLP (the “Manager”) is engaged in detailed discussions with the owners of a number of attractive investment assets that meet the Company’s investment criteria and are available for potential acquisition in the near term. The Directors consider that such investment opportunities are likely to be value accretive to investors over the medium term. Accordingly, the Company is seeking to raise a target amount of £100 million1 (before expenses) via the Issue that will provide the Company with funds to capitalise on these opportunities.
Indicative Timetable
Record Date for entitlements under the Open Offer 5.00 p.m. on 25 January 2016
Open Offer Application Forms despatched to Qualifying NonCREST Shareholders 27 January 2016
Ex-entitlement date for the Open Offer 27 January 2016
Open Offer Entitlements credited to stock accounts in CREST of Qualifying CREST Shareholders 28 January 2016
Recommended latest time for requesting withdrawal of Open Offer Entitlements from CREST 4.30 p.m. on 5 February 2016
Latest time and date for depositing Open Offer Entitlements into CREST 3.00 p.m. on 8 February 2016
Latest time and date for splitting of Open Offer Application Forms (to satisfy bona fide market claims only) 3.00 p.m. on 9 February 2016
Latest time and date for receipt of completed Open Offer
Application Forms and payment in full under the Open Offer or settlement of relevant CREST instructions (as appropriate) 11.00 a.m. on 11 February 2016
The Placing and Offer for Subscription
Placing and Offer for Subscription opens 27 January 2016
Latest time and date for receipt of completed Application Forms and payment in full under the Offer for Subscription 11.00 a.m. on 11 February 2016
Latest time and date for receipt of placing commitments under the Placing 3.00 p.m. on 11 February 2016

I've opted to take my full entitlement plus a few more.

Greedy boy! ;o)

Ex-divi thurs 11th Feb (3p).

MIDAS-SHARE-TIPS-UPDATE-big-box-tip-Tritax-gets-bigger-shares-30-cent

Result of Issue and Tap Issue

TRITAX BIG BOX REIT PLC
(the "Company")
RESULT OF PLACING, OPEN OFFER AND OFFER FOR SUBSCRIPTION AND FURTHER TAP ISSUE

The Board of Directors (the "Directors") of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the results of the Placing, Open Offer and Offer for Subscription of Ordinary Shares (the "Issue").

Investor demand for the Issue has significantly exceeded the targeted size of £100 million and the maximum size of £150 million. The Board, after careful consideration with the Manager and in consultation with its Joint Financial Advisers, has determined to utilise part of its annual pre-emption disapplication authority to satisfy £50 million of the excess demand on equivalent terms to the Placing (the "Tap Issue").

In taking this decision, the Board has taken into account the strength of the Manager's near term investment pipeline and the Company's stated dividend target for 2016. Accordingly, the total size of the Issue when aggregated with the Tap Issue will be £200 million, which is significantly lower than the total overall demand for the Issue.

A total of 161,290,323 Ordinary Shares will be issued at a price of 124 pence per Ordinary Share (the "Issue Price"), of which 53,513,170 Ordinary Shares will be issued pursuant to the Open Offer, 7,435,906 Ordinary Shares will be issued pursuant to the Offer for Subscription, 60,018,666 Ordinary Shares will be issued under the Placing and 40,322,581 Ordinary Shares will be issued under the Tap Issue.

All valid applications under the Open Offer (including Excess Applications) have been met in full. A scaling back exercise has been undertaken with respect to applications received pursuant to the Placing and the Offer for Subscription.

The net proceeds of the Issue will be used by the Company to acquire further investments. In this regard, the Manager is engaged in detailed discussions with the owners of a number of attractive investment assets that meet the Company's investment criteria and are available for potential acquisition in the near term.

Commenting on today's announcement, Richard Jewson, non-executive chairman of the Company, said:

"We are delighted by the success of this fundraising against the backdrop of very difficult equity market conditions. On behalf of the Board and the Manager I would like to thank existing shareholders for their continued strong support and welcome a significant number of new investors."

Colin Godfrey, Partner of Tritax, commented:

"The Company has an attractive pipeline of investment opportunities which are expected to be value accretive to shareholders over the medium term. We look forward to building an increasingly diversified portfolio, generating income growth underpinned by a growing rental stream and a low cost base."

The Issue is conditional, amongst other things, upon the passing of the Resolutions at the General Meeting to be held today, Admission of the Ordinary Shares occurring no later than 8.00a.m. on 16 February 2016 (or such later time and/or date as the Company and Jefferies may agree) and the Placing Agreement not being terminated and becoming unconditional in accordance with its terms. If these conditions are not met, the Issue will not proceed and an announcement to that effect will be made via a Regulatory Information Service.

Jefferies International Limited ("Jefferies") and Akur Limited ("Akur") are acting as Joint Financial Advisers and Jefferies is acting as Sponsor, Sole Global Coordinator and Bookrunner in relation to the Issue and the Tap Issue.

Admission to the Official List

Application has been made for all of the new Ordinary Shares to be admitted to the premium listing segment of the Official List of the FCA and to be admitted to trading on the London Stock Exchange's main market for listed securities ("Admission"). It is expected that Admission will become effective, and that dealings in the new Ordinary Shares will commence, on 16 February 2016.

Total Voting Rights

Immediately following Admission, the Company's issued share capital will consist of 839,130,411 Ordinary Shares with voting rights. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Indicative Timetable

General Meeting
10.00 a.m. on 12 February 2016
Admission of the new Ordinary Shares to the Official List and to trading on the London Stock Exchange's main market for listed securities
8.00 a.m. on 16 February 2016
Crediting of CREST stock accounts
16 February 2016

Share certificates despatched (where appropriate)
week commencing 29 February 2016 (or as soon as possible thereafter)

Interesting that the sp has fallen to the RI price, which, apart from saving the dealing costs, means that non holders can buy at the same price as holders, possibly lower if the market continues it's slide.

Don't forget they went XD yesterday @3p

Any thoughts here skinny? Quite a few sells going through at 123.90, which isn't important in itself, but am wondering whether investors upset with the extra dilution.

I'll continue to hold Harry - "Investor demand for the Issue has significantly exceeded the targeted size of £100 million and the maximum size of £150 million."

RESULT OF GENERAL MEETING

Jefferies International Buy 125.80 140.00 140.00 Reiterates

Norges Bank < 3%

NOTICE OF FULL YEAR RESULTS

Tritax Big Box REIT plc (ticker: BBOX), the only real estate investment trust giving pure exposure to very large logistics warehouse assets in the UK, will announce its full year results for the twelve months ended 31 December 2015 on Wednesday, 16 March 2016.

A Company presentation to analysts will take place at 10.30am on the day at the offices of Newgate, Sky Light City Tower, 50 Basinghall Street, EC2V 5DE.

Those wishing to attend are kindly asked to contact Newgate on tritax@newgatecomms.com or by telephone on +44 (0) 20 7680 6550.

A new high @133p.

Full Year Results

Financial highlights
· Dividends declared in respect of 2015 totalled 6.0 pence per share, in line with our target.

· Total return for the year of 19.4%, compared to the FTSE EPRA/NAREIT UK REITs Index of 10.5%.

· We agreed a new £500 million debt facility, reducing our average cost of borrowing by 35bps to 1.42% above 3 month Libor and extending our average unexpired loan term to 4.67 years.

· The EPRA net asset value per share increased by 17.11 pence (or 15.91%) to 124.68 pence (31 December 2014: 107.57 pence).

· We raised £229 million of equity during 2015 under our share issuance programme which expired on 7 July 2015.

· The portfolio is 100% let, or pre-let with developer licence fee income, across 25 properties.

· Our investment properties were independently valued at £1.31 billion1.

· £106.75 million valuation gain on our investment property portfolio during 2015.

· The portfolio's contracted rental income has increased to £68.37 million1 per annum (31 December 2014: £36.16 million1), including forward funded developments.


Operational highlights
· We acquired 11 Big Boxes during the year, five of which were forward funded pre-let developments. The acquisitions further diversified the portfolio by geography, tenant and building size.

· At the year end, the portfolio contained 25 assets, covering approximately 13 million sq ft of logistics space.

· The total expense ratio for the year was 1.09%, down from 1.13% for the prior period, which compares favourably with our real estate peers.

· At the year end, the weighted average unexpired lease term ("WAULT") was 16.5 years (31 December 2014: 13.9 years), against our target of at least 12 years.

· The average net initial yield of the portfolio at acquisition is 5.8% against our year end valuation of 4.9% net initial yield.

· 33% Loan to Value ("LTV"). On a fully invested basis, including the fulfilment of our forward funded development commitments this increases to c.40%.

· Our shares were:

o included in the FTSE EPRA/NAREIT Global Developed Index from 23 March 2015

o included in the FTSE 250 Index from 8 June 2015

o included in the MSCI Global Small Cap Index from 30 November 2015

· This helped to attract new investors and broaden liquidity in the shares with daily average traded value of £2.2 million in 2015


Post balance sheet highlights
· On 16 February 2016, the Company completed a £200 million equity fundraising in order to fund its near term investment pipeline.

· Progressive dividend target of 6.2 pence per share set for 2016.

HL's take - Tritax Big Box REIT - 2015 Full Year Results

New high @134.70p

Jefferies International Buy 134.50 140.00 150.00 Reiterates

Acquisition of Argos' National Distribution Centre

ACQUISITION OF ARGOS' NATIONAL DISTRIBUTION CENTRE AT BURTON-UPON-TRENT, STAFFORDSHIRE FOR £74.65 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has acquired Argos' National Distribution Centre at Barton Business Park, Burton-upon-Trent, Staffordshire for a purchase price of £74.65 million (net of acquisition costs), reflecting a net initial yield of 5.55% on the corporate acquisition. The purchase has been funded from equity proceeds, with senior debt finance expected to be introduced in the near term.

The distribution centre incorporates modern design features including an eaves height of between 12 and 30 metres, ancillary office accommodation, extensive loading and has benefited from significant capital investment by the tenant including substantial internal automation systems. The facility comprises 653,670 sq ft, arranged over c. 26 acres, providing a site cover of approximately 47%.

The National Distribution Centre is well positioned in Staffordshire in the West Midlands, a core central UK location, with excellent motorway connectivity, strategically located adjacent to the A38 dual carriageway providing direct access to the M6 Toll, M42 (Junctions 9 to 11) and via the A50 (Junction 24) and A511 (junction 22) to the M1 motorway, and with close proximity to rail and air connections. The West Midlands is an established logistics location, which has attracted a significant number of major occupiers, including Amazon, B&Q, Boots, Pirelli and Tesco.

The property is let to Argos Limited with an unexpired lease term of approximately 12 years and benefits from fixed annual rental increases of 3%.

JLL represented the Company on the acquisition and David Baroukh Associates LLP represented the vendor.

Acquisition

ACQUISITION OF A DSG RETAIL PLC NATIONAL DISTRIBUTION CENTRE AT NEWARK, NOTTINGHAMSHIRE FOR £77.30 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts to acquire a National Distribution Centre let to DSG Retail Ltd ("DSG"), part of the Dixons Carphone plc group. The purchase price is £77.30 million (excluding purchaser's costs), reflecting a net initial yield of 5.86% on the corporate acquisition. The purchase is being funded from equity proceeds, with senior debt finance expected to be introduced in the near term. Completion is expected to take place later today.

The property is one of two National DSG Distribution Centres located on Newlink Business Park in Newark, Nottinghamshire and forms part of DSG's principal National Distribution hub for direct store replenishment, home deliveries and returns. The National Distribution Centre also accommodates DSG's main service repair centre which has benefited from significant capital investment. This facility was purpose built to a high specification for DSG in 2003 and includes an eaves height of 12.25 metres, extensive parking and a substantial service yard. The facility has a gross internal floor area of 725,798 sq ft and a low site cover of circa 37%. The property has an unexpired lease term of approximately 20 years and benefits from 3% per annum fixed rental increases received every five years.

Newlink Business Park is strategically located two minutes from the A1 and A46 interchange, providing good motorway connectivity north and south via the A1/A1M and onto the M1. The site benefits from good rail services with Newark North Gate Station located less than two miles from the property.

DTRE represented the Company on the acquisition and Savills represented the vendor.

Colin Godfrey, Partner of Tritax, commented:
"This National Distribution Centre at Newark is a strong addition to the foundation income within our overall portfolio of 28 Big Box logistics assets and has been acquired at a level which is accretive to our portfolio's current average net initial yield. It further diversifies our tenant and geographic mix and maintains the weighted average unexpired lease term across the portfolio at approximately 16.5 years. Dixons Carphone plc is one of the largest pure electrical retailers with a growing online presence and we are pleased to have been able to secure this key asset."

TRADING UPDATE

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to provide the following update ahead of the half year period ending 30 June 2016.

PORTFOLIO HIGHLIGHTS
· £1,488 million (net of acquisition costs)1 invested in 28 UK Big Box assets let to 22 tenants

· 27 standing assets and one pre-let forward funded development with a combined floor space of 14.7 million sq. ft. (of which 0.6 million sq. ft. is under construction)

· 75% of assets acquired off-market with average purchase yield of 5.8%

· Nine new investments made in the last 12 months for an aggregate purchase price of £473 million

· Current weighted average unexpired lease term ("WAULT") across the portfolio of 16.3 years

· Portfolio 100% let with contracted annual rental income of £78.5 million2 as at 29 June 2016

· All leases provide for upward only rent reviews, of which 43% are open market, 32% are fixed uplift, 17% are RPI linked and 8% are hybrid

· High quality institutional grade tenant mix with strong financial covenants - 84%3 of tenants are listed PLCs (71% in the FTSE 100 or FTSE 250)

· Forward funded developments pre-let to Rolls-Royce Motor Cars, Ocado, NicePak, Dunelm and Howdens have all completed on schedule and on budget

1 as at 31 December 2015 valuation plus acquisition price for subsequently acquired properties
2 including forward funded assets
3 based on the ultimate parent entity of the lessee


FINANCIAL HIGHLIGHTS
· Targeting fully covered aggregate dividend of 6.2p per share for the year ending 31 December 20164

· Low cost base with 2015 total expense ratio of 1.09%

· £569.5 million of committed debt financing in place of which £472.9 million is currently drawn (32% LTV)

· Weighted average term to maturity of debt facilities of 4.3 years, which could be increased to 6.1 years by triggering extension options

· Current blended margin payable of 1.42% above three month LIBOR, capped at an all-in rate of 2.84% using interest rate caps which run coterminous with the Group's bank facilities

· Successful oversubscribed £200 million equity issue in February 2016

4 the target dividend is a target only and not a forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's expected or actual future results.

EXTENSION OF DEBT FACILITY

Following completion of the Ocado distribution warehouse at Erith, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has agreed terms to extend the maturity of its £50.866 million loan facility (the "Facility") secured on the asset with Landesbank Hessen-Thüringen Girozentrale ("Helaba") from July 2020 to July 2023.

Including the Facility, the blended margin payable across the Company's financings will be 1.43% above three month LIBOR. When taking into account the Company's hedging arrangements, the all-in capped cost of borrowing is 2.86%. The Company has 99.7% of its drawn debt subject to hedging arrangements.

Forward funded pre-let investment in new facility

FORWARD FUNDED PRE-LET INVESTMENT IN A NEW LOGISITICS FACILITY AND HEADQUARTERS AT FOUR ASHES, WOLVERHAMPTON

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts (conditional on detailed planning consent) to provide forward funding for the development of a new logistics facility and headquarters at Four Ashes, Wolverhampton. The investment price is £56.3 million, reflecting a net initial yield of 5.14% (net of land acquisition costs).

The site is strategically located in the West Midlands, close to J12 of the M6, providing good access to Birmingham and Nottingham. The new facility will comprise a gross internal area of 543,692 sq ft. with expansion land to accommodate up to a further 101,139 sq ft. The property will include modern specifications, with a clear height of 15 and 12 metres and a low site cover of approximately 43%.

Agreement has been reached with a leading global designer and manufacturer of components and assemblies to enter into a new 25-year lease for the new facility, conditional upon detailed planning consent. The lease will be subject to five yearly upward only rent reviews indexed to the Retail Price Index, providing a minimum 2% pa rental growth (capped at 4% pa). During the construction phase, the Company will receive an income return equivalent to the agreed rent from the developer. Further details regarding the tenant will be made available in due course.

The development is being undertaken by Bericote Properties. Construction of the main works is expected to commence during September 2016 with practical completion anticipated for July 2017. The land purchase is expected to be funded by the Company from equity proceeds, with senior debt finance to be introduced in the near term.

Jones Lang LaSalle represented the Company and Dowley Turner Real Estate LPP represented the vendor.

Colin Godfrey, Partner of Tritax, commented:

"We are very pleased to be investing in this new logistics facility and UK headquarters which will benefit from significant capital investment by the tenant with the capacity to expand the unit to accommodate future growth plans. This investment provides further tenant, geographic and business sector diversification whilst maintaining a WAULT of over 16 years. This is our seventh pre-let forward funded development and the third with Bericote, one of the UK's leading developers of Big Box assets, following the successful completion of the Rolls-Royce Motor Cars and Ocado facilities."

ACQUISITION OF A KELLOGG'S DISTRIBUTION FACILITY AT TRAFFORD PARK, MANCHESTER FOR £23.5 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has acquired a distribution facility at Trafford Park, Manchester, let to Kellogg Company of Great Britain Limited ("Kellogg's"), whose ultimate parent is the Kellogg Company. The purchase price is £23.5 million (excluding purchaser's costs), reflecting a net initial yield of 5.9% on the asset acquisition. The purchase is being funded from equity proceeds, with senior debt finance expected to be introduced in the near term.

The property is one of three distribution and production facilities located at Trafford Park, Manchester let to Kellogg's and is in close proximity to its production facility at Barton Dock Road, Trafford Park, which is the Kellogg Company's largest manufacturing facility in Europe and where it manages its national and some international operations. The asset was built to a high specification in 2007 and includes an eaves height of c.15 metres, offices and extensive parking and loading facilities. The facility has also benefited from significant capital investment including recent investment to improve racking efficiency. The facility has a gross internal floor area of 311,602 sq ft and a site cover of approximately 46%.

Trafford Park remains one of the largest and most successful business parks in Europe with one of the highest concentration of industrial and logistics facilities in the UK, principally due to its excellent rail, shipping and airport connectivity together with its proximity to the greater Manchester conurbation. It has a dedicated rail freight terminal, which is the largest in the North West, running straight through to mainland Europe, direct access to the M60 and the Manchester Ship canal and Manchester International Airport.

The property is being acquired with an unexpired lease term of approximately 1.75 years with a passing rent of £4.50 per sq ft and a capital value cost equivalent to approximately £75 per sq ft.

A new high @140.10p.

ACQUISITION OF THE AMAZON DISTRIBUTION CENTRE AT KINGSTON PARK, PETERBOROUGH FOR £42.9 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has acquired the distribution centre at Kingston Park, Peterborough, let to Amazon UK Services Ltd ("Amazon") (and guaranteed by Amazon EU Sarl), for a purchase price of £42.9 million (net of acquisition costs), reflecting a net initial yield of 5.6% on the corporate acquisition. The purchase is being funded from equity proceeds, with senior debt finance expected to be introduced in the near term.

The property is one of Amazon's major distribution centres in the UK, fulfilling general merchandise online orders and groceries throughout the UK and Europe. The distribution centre has benefited from significant capital investment from the tenant with further initiatives currently underway. The property was built to a high specification in 2006, comprising an eaves height of 15 metres, offices, a secure HGV trailer park and extensive parking. The facility has a gross internal floor area of 549,788 sq ft with a low site cover of approximately 42%.

Kingston Park, Peterborough is well positioned in a core logistics location with excellent motorway connectivity across the UK, located just off junction 17 of the A1M, and links to the M1 (via A47) and A14, which provides a direct route to the Port of Felixstowe and the Midlands. Furthermore, Peterborough was the second fastest growing UK city over the last 10 years (as at 2015), thereby providing a large and growing workforce to draw from, underpinning the longevity of the area as a major UK distribution location.

The property is being acquired with an unexpired lease term of approximately 8.7 years subject to five yearly upward only rent reviews indexed to the Consumer Price Index (collared and capped at 1.5% p.a. and 2.75% p.a.). The next rent review is due in April 2020. The passing rent is c. £4.50 per sq ft with a capital value cost equivalent to approximately £78 per sq ft.

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016

Financial highlights
· Dividends declared for the six month period of 3.1 pence per share, putting the Group on track to hit the target of 6.2 pence1 for the full year. Our dividend is fully covered by Adjusted earnings2.

· Adjusted earnings per share totalling 3.16 pence per share2 for the six month period.

· Total return for the six month period of 5.8%, compared to the FTSE EPRA/NAREIT UK REITs Index total return of -11.7%.

· Portfolio independently valued at 30 June 2016 at £1.53 billion3, reflecting a £41.1 million or 2.8% valuation gain during the period.

· EPRA net asset value per share increased by 4.23 pence or 3.4% to 128.91 pence (31 December 2015: 124.68 pence).

· Contracted rental income, including forward funded developments, increased to £78.59 million per annum (31 December 2015: £68.37 million).

· Raised £200 million of equity during the period, through a substantially oversubscribed share issue.

· Period end loan to value ("LTV") of 32% (31 December 2015: 33%), which increases to approximately 40%, including the fulfilment of our forward funded development commitments.

· The total expense ratio was 0.54% for the six month period, compared to 1.09% for the full year to 31 December 2015.


Operational highlights
· Acquired three Big Boxes during the period, with an aggregate purchase price of £177 million, further diversifying the portfolio by geography and tenant.

· Four forward funded pre-let developments reached practical completion in the period, with a total value of £271 million.

· Average net initial yield of the property portfolio at acquisition is 5.8%, against the period end valuation of 4.8% net initial yield.

· At the period end, the portfolio contained 28 assets, covering approximately 14.5 million sq ft of logistics space.

· Our portfolio is 100% let, or pre-let with developer licence fee received during the construction period.

· At 30 June 2016, the weighted average unexpired lease term ("WAULT") was 16.3 years, compared to 16.5 years at 31 December 2015 and ahead of the initial target of at least 12 years.


Post balance sheet highlights
· On 29 July 2016, the existing Helaba loan facility, secured on the asset let to Ocado, was extended by three years, taking the maturity of the facility out to July 2023.

· On 1 August 2016, acquired the pre-let forward funded development in Wolverhampton for £56.3 million.

· On 3 August 2016, agreed a new £72 million, c.13 year loan with Canada Life, at a fixed rate of 2.64%.

· On 8 August 2016, the Company acquired an investment property in Manchester, let to Kellogg's, for £23.5 million.

· On 9 August 2016, the Company acquired an investment property in Peterborough, let to Amazon, for £42.9 million.

1 This is a target only not a forecast. There can be no assurances that the target will be met and it should not be taken as an indicator of the Company's expected or actual future results
2 See note 7 for reconciliation
3 See note 10 for reconciliation

Richard Jewson, Chairman of Tritax Big Box REIT plc, commented:

"Despite a backdrop of uncertainty (and perhaps partially because of it), I believe the future of our Company remains favourable. UK retail continues to evolve, with e-commerce growth leading the way. Many of our properties have an e-retail focus and/or automation, aiding home deliveries or store replenishment. These facilities are delivering economies of scale benefits and cost savings crucial to competitiveness and efficiency in a market where the consumer has become ever more demanding. Our aim is to invest in modern, best in class properties that are mission critical to the tenants that operate from them. This also ensures that our portfolio is defensive whilst offering the strongest potential for value growth.

"We continue to work closely with our tenants, where possible supporting their business objectives whilst delivering value growth through asset management. Occupational demand continues to outweigh the supply of quality logistics buildings in the UK but this situation is even more acutely favourable for Big Boxes. The resultant strong rental growth is expected to continue, helping to grow our income and support our progressive dividend policy.

"Our Investment Manager has continued to perform well, identifying value whilst exercising capital discipline and building a strong, best-in-class portfolio of Big Box investments. Subject to continued support from our shareholders, the Board considers that the Company has both the opportunity and ability to deliver further value growth to our shareholders through attractive investments."

DIVIDEND DECLARATION AND DIVIDEND POLICY

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 January 2016 to 30 June 2016 of 3.10 pence per ordinary share, payable on or around 25 August 2016 to shareholders on the register on 19 August 2016. The ex-dividend date will be 18 August 2016.

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

The Company is targeting a fully covered aggregate dividend of 6.20 pence per ordinary share for the year ending 31 December 20161.

The Board also announces its intention to increase the frequency of dividend payments from semi-annually to quarterly with effect from the financial year beginning 1 January 2017. This reflects feedback from shareholders and recent market practice amongst the Company's peer group of income focused real estate companies.

A new high @141.40p.

A new high @148p.

Placing, Open Offer and Offer for Subscription

PLACING, OPEN OFFER AND OFFER FOR SUBSCRIPTION
The Board of Directors (the "Directors") of Tritax Big Box REIT plc (ticker: BBOX) announces a Placing, Open Offer and Offer for Subscription of new ordinary shares of the Company (the "New Shares") at a price of 132 pence per New Share (the "Issue Price") (the "Issue")

Any capitalised terms used but not otherwise defined in this announcement have the meaning set out in the prospectus and/or the circular to be published by the Company in connection with the Issue.

The Company expects to use the net proceeds of the Issue to acquire further investments. In this regard, Tritax Management LLP (the "Manager") is engaged in detailed discussions with the owners of a number of attractive investment assets that meet the Company's investment criteria and are available for potential acquisition in the near term (as set out in more detail below). The Directors consider that such investment opportunities are likely to be value accretive to investors over the medium term. Accordingly, the Company is seeking to raise a target amount of £150 million1 (before expenses) via the Issue that will provide the Company with funds to capitalise on these opportunities. The Company plans to deploy the net proceeds of the Issue within three months of Admission.

Issue Highlights

· The Issue, which is not underwritten, comprises the Placing, Open Offer and Offer for Subscription, in aggregate equalling up to 113,636,364 New Shares at the Issue Price of 132 pence per New Share (based on the target size of £150 million).

· The Issue Price represents a discount of 7.1 per cent. to the closing price of 143.6 pence per Existing Ordinary Share as at the close of business on 27 September 2016, net of the second interim dividend of 1.55 pence per Ordinary Share described below and a premium of 4.9 per cent. to the unaudited EPRA Net Asset Value per Existing Ordinary Share (128.91 pence as at 30 June 2016), net of the first interim dividend of 3.1 pence per Ordinary Share paid on 25 August 2016.

· The New Shares will rank pari passu in all respects with the Existing Ordinary Shares, save in respect of the second interim dividend of 1.55 pence per Ordinary Share declared today for the three month period to 30 September 2016.

· Under the Open Offer, up to an aggregate amount of 76,364,364 New Shares will be made available to Qualifying Shareholders at the Issue Price, pro rata to their holdings of Existing Ordinary Shares, on the basis of:

1 New Ordinary Share(s) for every 11 Existing Ordinary Shares held on the Record Date.

· The balance of New Shares to be made available under the Issue together with New Shares not taken up pursuant to the Open Offer will be made available for subscription under the Excess Application Facility, the Placing and the Offer for Subscription.

· The Placing and Offer for Subscription are subject to scaling back at the discretion of the Directors. The Open Offer is not subject to scaling back in favour of the Placing or the Offer for Subscription.

· The Issue, which is not underwritten, is conditional, amongst other things, upon the passing of the Resolutions at the General Meeting, Admission of the New Shares occurring no later than 8.00 a.m. on 18 October 2016 (or such later time and/or date as the Company and Jefferies may agree) and the Placing Agreement not being terminated and becoming unconditional in accordance with its terms. If these conditions are not met, the Issue will not proceed and an announcement to that effect will be made via a Regulatory Information Service.

· Application will be made for the New Shares to be admitted to the premium listing segment of the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities.


Benefits of the Issue

The Directors believe that the Issue will have the following principal benefits for Shareholders:

· the net proceeds of the Issue will be used to make further investments in accordance with the Company's investment criteria, diversifying the Company's Portfolio in terms of both tenant exposure and geographical location and capitalising on the Company's leading position in the UK Big Box logistics market;

· all the assets targeted to be acquired are expected to be value accretive for Shareholders over the medium term;

· an increase in the size of the Company should improve liquidity and enhance the marketability of the Company's Ordinary Shares, resulting in a broader investor base over the longer term; and

· an increase in the size of the Company will spread its fixed operating expenses over a larger capital base, which should reduce ongoing expenses per Share.


Pipeline of potential investments

The Manager has access to a pipeline of potential investments and is engaged in discussions with the owners of a number of attractive assets that meet the Company's investment criteria and are available for potential acquisition in the near term (although the Company has not entered into any definitive agreements with respect to any of them). Among these, the Manager is currently in advanced negotiations in relation to three assets, brief details of which are set out below. Each of these assets is under offer and in exclusivity. All three assets are occupied by high quality tenants none of which are tenants of the Company's existing Portfolio.

DIVIDEND DECLARATION

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has declared a second interim dividend in respect of the period from 1 July 2016 to 30 September 2016 of 1.55 pence per ordinary share, payable on or around 27 October 2016 to shareholders on the register on 14 October 2016. The ex-dividend date will be 13 October 2016.

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

The Company is targeting a fully covered aggregate dividend of 6.20 pence per ordinary share for the year ending 31 December 20161.

Publication of a Prospectus

Search for "indicative timetable" here

ACQUISITION OF TWO LOGISTICS FACILITIES FOR A COMBINED PURCHASE PRICE OF £115.5 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts with a major UK institution to acquire two modern Big Box logistics facilities at Birch Coppice, Birmingham and at Warth Park, Raunds, Northamptonshire, let to Euro Car Parts Limited ("Euro Car Parts") and Whirlpool UK Appliances Ltd ("Whirlpool"), respectively. The combined purchase price is £115.5 million. Completion of the purchases are conditional (amongst other things) on the successful completion of the fundraising announced by the Company on 28 September 2016 (the "Issue") and are expected to occur on or around 20 October 2016.

These purchases comprise two of the three assets noted as being under offer and in exclusivity in the announcement of the Issue. It is anticipated that contracts will also be exchanged on the third asset in the near term.

Euro Car Parts Main National Distribution Facility at Birch Coppice Business Park, Birmingham

The facility at Birch Coppice Business Park is let to Euro Car Parts, whose ultimate parent company is NASDAQ-listed LKQ Corporation, the largest provider of alternative automobile components in North America and the UK. The purchase price is £80.135 million (excluding purchaser's costs), reflecting a net initial yield of 5.04% on the asset acquisition. The purchase price will be funded by equity proceeds (with senior debt expected to be introduced in the near term).

Completed in January 2016 for Euro Car Parts as its new main National Distribution facility, the property has benefited from significant capital investment from the tenant. Purpose-built to a high specification, it comprises an eaves height of 18 metres, offices, a secure trailer park and extensive parking. The facility has a gross internal floor area of approximately 780,977 sq ft.

Birch Coppice Business Park, Birmingham, located within the Golden Triangle of logistics, is one of the UK's premier rail connected distribution parks, with direct access to the Birmingham Intermodal Freight Terminal, one of the UK's most efficient rail freight terminals. The property also has excellent airport and motorway connectivity with close proximity to the M6, M1, M69 and M6 as well as Birmingham International and East Midlands airports. As an established core logistics location, it has attracted a significant number of major occupiers, including Bunzl, CEVA Logistics, Ocado, PHS, Volkswagen Group and UPS.

The property is being acquired with an unexpired lease term of approximately 19.35 years subject to five yearly upward only rent reviews indexed to the Retail Price Index (capped and collared at 2% p.a. and 4% p.a. compound). The next rent review is due in January 2021. The passing rent is £5.48 per sq ft. which could be considered reversionary against recent market transactions.

Whirlpool Distribution Facility at Warth Park, Raunds, Northamptonshire

The facility at Warth Park is let to Whirlpool whose ultimate parent is Whirlpool Corporation Group, an S&P 500 constituent and the world's leading global manufacturer of home appliances. The purchase price is £35.35 million (excluding purchaser's costs), reflecting a net initial yield of 6.6% on the asset acquisition. The purchase price will be funded by equity proceeds (with senior debt expected to be introduced in the near term).

The facility was completed in 2001 and built to a high specification with a gross internal floor area of 473,263 sq ft and a low site cover of approximately 43%. It has benefited from significant capital investment from the tenant, including a 150,000 sq ft extension in 2006, and comprises an eaves height of 11 metres and substantial secure yards, trailer park and extensive parking.

Warth Park in Raunds, Northamptonshire is strategically located on the A45 corridor close to J13 of the A14, which provides access to the ports of Felixstowe and Harwich and also directly links to the A1(M) dual carriageway and the M1 motorway. The site is also close to the established logistics location of Northampton and Thrapston, with existing major distribution occupiers including Homebase, Morrisons and Primark and the Company's new distribution facility pre-let to Howdens in June 2016 on a new 30 year lease, without break.

The property is being acquired with an unexpired lease term of approximately 4.3 years. There are no further rent reviews. The passing rent is c. £5.20 per sq ft with a capital value cost reflecting £75 per sq ft.

Colin Godfrey, Partner of Tritax, commented:

"We are very pleased to have agreed to acquire these two complementary Big Box distribution facilities. These acquisitions will add two new established covenants to the strong list of tenants in our portfolio, which will then comprise 33 Big Box assets. The Euro Car Parts' new National Distribution facility will provide long term income in one of the most sought after locations within the 'Golden Triangle'. The net initial yield of the Whirlpool facility will be accretive to our portfolio running yield and the short unexpired lease term presents an opportunity for value enhancement in an established logistics location upon re-letting or lease re-gear."

ACQUISITION OF THE CO-OPERATIVE GROUP DISTRIBUTION FACILITY AT OLIVER ROAD, THURROCK FOR £56.5 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts to acquire the distribution warehouse and adjacent lorry parking facility (together the "Facility") at Oliver Road, Thurrock, both let to The Co-operative Group Limited ("Co-Op"). The purchase price for the Facility is £56.5 million (excluding purchaser's costs), reflecting a net initial yield of 5.53% on the asset acquisition. Completion of the purchase is conditional on the successful completion of the fundraising announced by the Company on 28 September 2016 (the "Issue") and is expected to occur on or around 20 October 2016.

This purchase comprises the third asset noted as being under offer and in exclusivity in the announcement of the Issue and takes the total number of assets in the Company's portfolio to 34.

The Facility is one of the Co-Op's six strategic UK distribution hubs and the only one located in the South East. The distribution warehouse, built to a high specification in 2005, has a gross internal area of 322,684 sq ft across 15.25 acres, reflecting a site cover of 48.6%. It has an eaves height of c.15 metres, ancillary offices, secure yards, extensive decked parking and has benefited from significant capital investment from the tenant. The adjacent lorry parking facility, which has development potential and covers a separate c.4.10 acres, was constructed in 2012.

The Facility is strategically located just off J31 of the M25, benefiting from excellent access to the wider motorway network including access to Central and Greater London and the South East as well as the deep sea ports of London Gateway and the Port of Tilbury.

The Facility is being acquired with a weighted average unexpired lease term of approximately 9.4 years on full repairing and insuring terms. The distribution warehouse is subject to five yearly upward only rent reviews to the higher of either a guaranteed fixed uplift of 2% p.a. or open market rent. The lorry parking facility is let on five yearly fixed rent increases of 2.5% p.a. The next review for the warehouse is due in December 2020. The next rent review for the lorry parking facility is due in May 2018.

Colin Godfrey, Partner of Tritax, commented:
"We are pleased to have acquired the Co-Op's South East distribution facility at Thurrock, further diversifying our portfolio tenant mix with an established covenant in a core distribution location. Prime quality Big Box logistics warehouses are in high demand from occupiers requiring close access to the densely populated London conurbations, but there are no units of this size or greater currently available to let around the M25 ring."

RESULT OF PLACING, OPEN OFFER AND OFFER FOR SUBSCRIPTION AND FURTHER TAP ISSUE

The Board of Directors (the "Directors") of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the results of the Placing, Open Offer and Offer for Subscription of Ordinary Shares (the "Issue").

Investor demand for the Issue has significantly exceeded the targeted size of £150 million and the maximum size of £250 million. The Board, after careful consideration with the Manager and in consultation with its Joint Financial Advisers, has determined to utilise part of its annual pre-emption disapplication authority to satisfy £100 million of the excess demand on equivalent terms to the Placing (the "Tap Issue").

In taking this decision, the Board has taken into account the strength of the Manager's near term investment pipeline, the Company's stated dividend target for 2016 and its intention to continue to adopt a progressive dividend policy. Accordingly, the total size of the Issue when aggregated with the Tap Issue will be £350 million, which is significantly lower than the total overall demand for the Issue.

A total of 265,151,515 Ordinary Shares will be issued at a price of 132 pence per Ordinary Share (the "Issue Price"), of which 76,364,364 Ordinary Shares will be issued pursuant to the Open Offer, 29,628,265 Ordinary Shares will be issued pursuant to the Offer for Subscription, 83,401,310 Ordinary Shares will be issued under the Placing and 75,757,576 Ordinary Shares will be issued under the Tap Issue.

A scaling back exercise has been undertaken with respect to applications received pursuant to the Placing, the Open Offer and the Offer for Subscription.

The net proceeds of the Issue will be used by the Company to acquire further assets. In this regard, the Company announced on 11 and 12 October 2016 that it had exchanged contracts to acquire three Big Box logistics facilities for an aggregate consideration of £172 million. In addition to these purchases that are each expected to complete on or around 20 October 2016 using the proceeds of the Issue, the Manager is engaged in detailed discussions with the owners of a number of other attractive investment assets, a number of which are off-market, that meet the Company's investment criteria and are available for potential acquisition in the near term.

Commenting on today's announcement, Richard Jewson, Non-Executive Chairman of the Company, said:

"We are delighted with the strong support that this Issue has received from existing shareholders and a wide range of new investors. This fundraising will enable the Company to build upon its strong position and pursue attractive investment opportunities that are likely to be value accretive to our shareholders over the medium term."

Colin Godfrey, Partner of Tritax, commented:

"Since the beginning of 2016, the Company has acquired, or agreed to acquire, nine high quality Big Box assets, taking the total number of investments to 34, and is engaged in discussions with the owners of a number of other attractive assets. The proceeds from this fundraising will allow the Company to strengthen and diversify the portfolio further whilst delivering stable and secure returns for shareholders."

The Issue is conditional, amongst other things, upon the passing of the Resolutions at the General Meeting to be held on 17 October 2016, Admission of the Ordinary Shares occurring no later than 8.00 a.m. on 18 October 2016 (or such later time and/or date as the Company and Jefferies may agree) and the Placing Agreement not being terminated and becoming unconditional in accordance with its terms. If these conditions are not met, the Issue will not proceed and an announcement to that effect will be made via a Regulatory Information Service.

Jefferies International Limited ("Jefferies") and Akur Limited ("Akur") are acting as Joint Financial Advisers and Jefferies is acting as Sponsor, Sole Global Coordinator and Bookrunner in relation to the Issue and the Tap Issue.

Old Mutual Plc < 5%

FORWARD FUNDED INVESTMENT IN A NEW PRE-LET DISTRIBUTION FACILITY AT PROLOGIS PARK, FRADLEY, STAFFORDSHIRE

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has completed the land purchase and exchanged contracts to provide forward funding for the development of a new distribution facility at Prologis Park Fradley, Staffordshire, pre-let to Screwfix Direct Ltd ("Screwfix"), whose ultimate parent is Kingfisher Plc. Screwfix is the UK's largest multi-channel retailer of trade tools, accessories and hardware products. The development represents an investment of £52.7 million, reflecting a net initial yield of 5.5% (net of acquisition costs to the Company).

The site is situated in a key Midlands logistics location, adjacent to the A38 dual carriageway, providing excellent connectivity to the M6 Toll, M42 and M1 motorways and with close proximity to rail and air connections. The area has attracted a significant number of major occupiers including Bidvest Foodservice, DHL, Tesco, Wincanton and Yodel.

The new facility will be completed to a high specification, comprising 562,000 sq ft., with an eaves height of 15 metres, extensive parking, offices and a site cover of approximately 48%. The development will be Screwfix's fourth UK distribution centre.

Upon practical completion of the construction, targeted for October 2017, the property will be leased to Screwfix on a new 10 year lease, subject to five yearly upward only open market rent reviews. During the construction phase, the Company will receive an income return equivalent to the agreed rent from the developer.

The development is being undertaken by Winvic Construction Ltd and guaranteed by Prologis UK Ltd on behalf of Tango Real Estate LLP, a joint venture vehicle between Prologis and Wittington Investments (Developments) Ltd. The land purchase has been funded by the Company from equity proceeds, with senior debt finance to be introduced in the near term.

DTRE represented the Company and JLL represented the vendor.

Colin Godfrey, Partner of Tritax, commented:

"This investment which is accretive to our dividend is a good addition to our portfolio, offering tenant and business sector diversification with a strong covenant. The property is located within the Golden Triangle for UK logistics, which is seeing positive rental growth. This represents our eighth pre-let forward funded development and brings our total portfolio to 35 assets."

ADDITIONAL £50 MILLION SECURED DEBT FACILITY AGREED

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has agreed an additional £50 million term loan (the "Additional Term Loan") to the £500 million secured debt facility agreed with a syndicate of four lenders in October 2015 (the "Original Facility"), which increases the aggregate facility to £550 million.

The Additional Term Loan has been agreed with Wells Fargo Bank, N.A., one of the existing syndicate lenders, on the same terms as the Original Facility. The Additional Term Loan will expire at the same time as the Original Facility in October 2020. Subject to lender support, the Company has a twelve month extension option available on the enlarged loan, which is exercisable in October 2017. The Group has until 28 February 2017 to fully utilise the Additional Term Loan.

The Group has a current weighted average all-in cost of borrowing of 1.89% and a weighted average capped cost of borrowing of 2.82%. 99.7% of drawn debt is subject to hedging arrangements. The Group's current loan to value ratio is approximately 31% with a medium term target of 40%.

FORWARD FUNDED INVESTMENT

FORWARD FUNDED INVESTMENT IN TWO NEW DISTRIBUTION FACILITIES AT WARTH PARK, RAUNDS, NORTHAMPTONSHIRE
PRE-LET TO HOWDEN JOINERY GROUP PLC

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts (conditional on receiving planning consent) to provide forward funding for the development of two new distribution warehouse facilities at Warth Park, Raunds, pre-let in their entirety under two separate leases to Howdens Joinery Group Plc ("Howdens"), the parent group of the leading supplier of kitchens in the UK. The investment price is £101.8 million, reflecting a net initial yield of 5.1% (net of land acquisition costs). Upon practical completion of the construction, targeted for August 2018, both properties will be leased to Howdens on two new 30 year leases, subject to five yearly upward only open market rent reviews.

Warth Park, at Raunds, Northamptonshire is strategically located on the A45 corridor close to J13 of the A14, which provides access to the ports of Felixstowe and Harwich and also directly links to the A1(M) dual carriageway and the M1 motorway. The site is currently host to two logistics facilities recently acquired by the Company let to Whirlpool and Howdens; other notable nearby distribution facility occupiers include Homebase, Morrisons and Primark at Wellingborough, Northampton and Thrapston respectively.

The two distribution facilities, which will stand adjacent to one another and to the Company's existing Howdens facility, are under separate freehold titles and will be completed to a high specification with gross internal floor areas of 657,000 sq ft and 300,000 sq ft., respectively. Both buildings will have an eaves height of 15 metres, extensive offices and a combined site cover of approximately 53%.

The development will be undertaken by Roxhill which successfully delivered the previous Howdens facility on time and on budget. The land purchase will be funded by the Company from equity proceeds, with senior debt finance to be introduced in the near term.

Colin Godfrey, Partner of Tritax, commented:
"We are pleased to be working with Roxhill again and investing in the second phase of Howdens' new distribution centre, following the successful completion of the first phase which the Company also forward funded in September 2015. Once completed, these three facilities will provide Howdens with a 'centre of excellence' for its supply chain operations which is expected to deliver very significant operational and efficiency benefits.

"This investment is in an established logistics location with a strong covenant and extends the weighted average unexpired lease term of the Company's portfolio to c.16 years. This represents our ninth and tenth pre-let forward funded development and brings our total portfolio to 37 assets."

TRADING UPDATE

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the following update ahead of the publication of the Company's results for the year ended 31 December 2016 (currently expected to be released on or around 8 March 2017).

PORTFOLIO HIGHLIGHTS

· A portfolio of £1,877 million (including forward funded commitments)1 invested in 35 Big Box assets let to 29 tenants

· 33 standing assets and two pre-let forward funded developments, with a combined floor space of 18.2 million sq. ft. (of which 1.1 million sq. ft. is under construction)

· Ten new investments made in 2016, with an aggregate purchase price of £524 million

· Contracts exchanged on 23 December 2016 for two forward funded developments totalling £102 million, both pre-let to Howdens Joinery Group Plc, conditional on receiving planning consent. Planning consent is expected to be obtained in March 2017, which will further enhance the portfolio value

· 80% of assets acquired off-market since inception with average purchase yield of 5.7%

· Current weighted average unexpired lease term across the portfolio of 15.3 years2

· Portfolio 100% let with contracted annual rental income of £99.7 million as at 31 December 2016

· All leases provide for upward only rent reviews, of which 44% are open market, 35% are fixed uplift, 14% are RPI/CPI-linked and 7% are hybrid

· High quality institutional grade tenant mix with strong financial covenants - 81% of tenants are listed PLCs (61% in the FTSE 100 or FTSE 250)3

· Strong price resilience observed in the industrial logistics sector with modest capital value improvement during H2 2016

· Strong pipeline of attractively priced, off-market investment opportunities identified with several properties currently under offer


FINANCIAL HIGHLIGHTS

· Progressive dividend policy with target dividend of 6.2p per share for the year ended 31 December 2016, of which 4.65p per share has been paid for the nine months ended 30 September 2016

· Share price total return of 15.1% over 2016 compared to 10.2% for the FTSE EPRA/NAREIT UK Index over the same period4

· Extension of the Investment Management Agreement ("IMA") (earliest termination date of 31 December 2021), between the Company and the Manager, Tritax Management LLP, has resulted in a reduction of the management fee at new upper bands and lowers the Company's total expense ratio.

· Successful oversubscribed £350 million equity issue in October 2016

· £691.5 million of committed debt financing in place of which £541.5 million is currently drawn (30% LTV)

· Weighted average term to maturity of debt facilities of 4.8 years as at 31 December 2016, increasing to 5.6 years with extension options

· Current blended margin payable of 1.43% above three month LIBOR or the referenced GILT rate and a weighted average capped cost of borrowing of 2.82%

· Market capitalisation of £1,542 million4; FTSE 250, FTSE EPRA/NAREIT and MSCI index constituent

· £3.5 million average daily traded value in 2016; £5.2 million average daily traded value post the October 2016 equity raise5

more.....

Updated Financial Calendar

Full year results on Tuesday 7 March 2017.

Forward funded investment

FORWARD FUNDED INVESTMENT IN A NEW PRE-LET DISTRIBUTION CENTRE AT
SIGNIA PARK, DIDCOT, OXFORDSHIRE

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has completed the land purchase and exchanged contracts to provide forward funding for the development of a new distribution centre at Signia Park, Didcot, Oxfordshire, pre-let to Hachette UK Ltd ("Hachette UK"), whose ultimate parent is Lagardere SCA, a multinational media conglomerate listed on Euronext, Paris. Hachette UK is a leading UK publishing company. The development represents an investment of £29.24 million, reflecting a net initial yield of 5.82% (net of acquisition costs to the Company).

The site is situated in a core South East logistics location, which benefits from excellent road and rail connectivity via the A34, M4 and M40 motorways and Didcot Parkway Rail Station respectively. Didcot has attracted a number of occupiers including Screwfix, XPO Logistics, and BetterBathrooms, as well as the Tesco Distribution facility in Southmead Industrial Estate, which was acquired by the Company in 2014.

The new development will become Hachette UK's main national and a global distribution centre. The property will benefit from significant capital investment from the tenant, including high levels of automation. The facility will be purpose-built to a high specification, with a gross internal floor area of approximately 242,067 sq ft. and an eaves height of 20 metres, together with extensive parking. The property has a low site cover of approximately 40%.

Upon practical completion of the construction, targeted for July 2017, the property will be leased to Hachette UK on a new 15-year lease, subject to five yearly upward only open market rent reviews. During the construction phase, the Company will receive an income return equivalent to the agreed rent from the developer.

The development is being constructed by Winvic Construction Ltd and being developed by Clowes Developments (UK) Ltd, the ultimate parent company for the developer. The land purchase has been funded by the Company from equity proceeds, with senior debt finance expected to be introduced in the near term.

GVA represented the Company and JLL represented Clowes Developments (UK) Ltd, the vendor, and Graftongate, the Development Manager.

Colin Godfrey, Partner of Tritax, commented:
"We are very pleased to be investing in this new national and global distribution centre for Hachette UK, which will benefit from operational efficiencies delivered through significant automation.

This key South East logistics acquisition provides the Company with further tenant and business sector diversification whilst maintaining the weighted average unexpired lease term of the Company's portfolio at over 15 years, and is earnings accretive. This takes our total portfolio to 38 assets."

FULL YEAR RESULTS

Financial highlights

· Dividends declared in relation to 2016 totalled 6.20 pence per share, in line with our target. Dividends fully covered by Adjusted earnings per share of 6.51 pence.

· Total Shareholder return for the period was 15.1% (based on the increase in share price assuming dividends reinvested), as compared to the FTSE 250 Index, the FTSE All-Share REIT Index and the EPRA NAREIT UK index which delivered total returns of 6.7%, (7.0%) and (8.5%) respectively.

· EPRA net asset value per share increased by 3.46% or 4.71%1 on a like-for-like basis to 129.00 pence at 31 December (31 December 2015: 124.68 pence).

· Total return (being the increase in EPRA NAV plus dividends paid) for the year was 9.6%, compared to our medium-term target of 9% per annum.

· Market capitalisation of £1.54 billion as at 31 December 2016.

· Portfolio independently valued at £1.89 billion2 as at 31 December 2016 which includes all forward funded commitments.

· The portfolio's contracted annual rent roll has increased to £99.66 million (31 December 2015: £68.37million), which includes all forward funded commitments.

· Further diversified our sources of borrowing, with a new £72 million, long-term, fixed-rate facility with Canada Life. The Loan to Value (LTV) as at 31 December 2016 was 30.0%.

· A reducing EPRA cost and total expense ratio of 15.8% and 1.06% respectively, reflecting the benefits of increased scale.

· Raised £550 million of equity during 2016, through two substantially oversubscribed share issues.

Operational highlights

· Acquired 10 Big Boxes during the year with an aggregate purchase price of £524.4 million, further diversifying the portfolio by geography and tenant.

· As at the year-end our portfolio comprised 35 assets, covering more than 18.2 million sq ft of logistics space.

· Four forward funded pre-let developments reached practical completion in the year, with a total valuation of £272.8 million at 31 December 2016.

· Average net initial yield of the portfolio at acquisition is 5.70%, against our year-end valuation of 4.93%.

· Our portfolio was fully let, or pre-let and income producing during the year.

· At the year-end, the weighted average unexpired lease term ("WAULT") was 15.3 years, against our target of at least 12 years.

Post Balance Sheet Activity

· Progressive dividend target of 6.40 pence per share announced for 2017.

· Invested in the forward funded development pre-let to Hachette UK.

· Agreed a new 10 year fixed term loan facility with a fixed rate payable of 2.54%pa.

1 Having stripped out the effect of the different timings of dividend payments between December 2015 and December 2016.
2 Excludes Howdens units II and III at Warth Park, Raunds.
* Each year makes reference to 31 December.

DIVIDEND DECLARATION


The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 January to 31 March 2017 of 1.60 pence per ordinary share, payable on or around 22 May 2017 to shareholders on the register on 5 May 2017. The ex-dividend date will be 4 May 2017.

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

The Company is targeting an aggregate dividend of 6.40 pence per ordinary share for the year ending 31 December 20171, payable quarterly, representing a 3.2 per cent. increase in the total dividend of 6.20 pence per Ordinary Share declared for 2016, in excess of the rate of RPI inflation for the period from 1 January 2016 to 31 December 2016. Dividends are expected to be fully covered by Adjusted Earnings from the Company's portfolio of properties.

Placing, Open Offer and Offer for Subscription

Issue highlights

· The Issue, which is not underwritten, comprises the Placing, Open Offer and Offer for Subscription, of, in aggregate, up to 147,058,823 New Shares at the Issue Price of 136 pence per New Share (based on the target size of £200 million).

· The Issue Price represents a discount of 6.6 per cent. to the closing price of 147.2 pence per Existing Ordinary Share as at the close of business on 21 April 2017, net of the Q1 2017 interim dividend of 1.60 pence per Ordinary Share described below and a premium of 6.7 per cent. to the audited EPRA Net Asset Value per Existing Ordinary Share (129.00 pence as at 31 December 2016), net of the interim dividend of 1.55 pence per Ordinary Share paid on 3 April 2017.

· The New Shares will rank pari passu in all respects with the Existing Ordinary Shares, save in respect of the Q1 2017 dividend of 1.60 pence per Ordinary Share declared today for the three month period to 31 March 2017.

· Under the Open Offer, up to an aggregate amount of 100,517,096 New Shares will be made available to Qualifying Shareholders at the Issue Price, pro rata to their holdings of Existing Ordinary Shares, on the basis of:

1 New Ordinary Share for every 11 Existing Ordinary Shares held on the Record Date.

· The balance of New Shares to be made available under the Issue together with New Shares not taken up pursuant to the Open Offer will be made available for subscription under the Excess Application Facility, the Placing and the Offer for Subscription.

· The Placing and Offer for Subscription are subject to scaling back at the discretion of the Directors. The Open Offer is not subject to scaling back in favour of the Placing or the Offer for Subscription.

· The Issue, which is not underwritten, is conditional, amongst other things, upon the passing of the Resolutions at the General Meeting, Admission of the New Shares occurring no later than 8.00 a.m. on 15 May 2017 (or such later time and/or date as the Company and Jefferies may agree) and the Placing Agreement not being terminated and becoming unconditional in accordance with its terms. If these conditions are not met, the Issue will not proceed and an announcement to that effect will be made via a Regulatory Information Service.

· Application will be made for the New Shares to be admitted to the premium listing segment of the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities.


Benefits of the Issue

The Directors believe that the Issue will have the following principal benefits for Shareholders:

· the net proceeds of the Issue will be used to make additional investments in accordance with the Company's investment criteria, further diversifying the Company's Portfolio in terms of both tenant exposure and geographical location and capitalising on the Company's leading position in the UK Big Box logistics market;

· an increase in the size of the Company should improve liquidity and enhance the marketability of the Company's Ordinary Shares, resulting in a broader investor base over the longer term; and

· an increase in the size of the Company will spread its fixed operating expenses over a larger capital base, which should reduce ongoing expenses per Share.

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Numis Hold 140.20 136.00 136.00 Retains

Result of Issue

RESULT OF PLACING, OPEN OFFER AND OFFER FOR SUBSCRIPTION

The Board of Directors (the "Directors") of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the results of the Placing, Open Offer and Offer for Subscription of Ordinary Shares (the "Issue").

Investor demand for the Issue has significantly exceeded the targeted size of £200 million. The Board, after careful consideration with the Manager and in consultation with its Joint Financial Advisers, has exercised its right to increase the size of the Issue to the maximum of £350 million.

A total of 257,352,941 Ordinary Shares will be issued at a price of 136 pence per Ordinary Share (the "Issue Price"), of which 100,517,096 Ordinary Shares will be issued pursuant to the Open Offer, 12,075,902 Ordinary Shares will be issued pursuant to the Offer for Subscription and 144,759,943 Ordinary Shares will be issued under the Placing.

The Issue was significantly oversubscribed beyond the maximum size of £350 million; consequentially a scaling back exercise has been undertaken with respect to applications received pursuant to the Placing and the Offer for Subscription and excess applications received pursuant to the Open Offer.

The net proceeds of the Issue will be used by the Company to acquire further assets. The Company currently expects to deploy the net proceeds of the Issue within six months of Admission.

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RESULT OF GENERAL MEETING

ACQUISITION OF A DISTRIBUTION FACILITY AT TRAX PARK, DONCASTER FOR £20.9 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has acquired a National Distribution Centre at Trax Park, Doncaster, which is currently and will continue to be operated by Unilever UK Ltd ("Unilever") and is now let to Unilever, one of the world's leading suppliers of Food, Home and Personal Care products. The total consideration is £20.9 million (excluding purchaser's costs), reflecting a net initial yield of 5.61% on the asset acquisition. The purchase is being funded from equity proceeds.

Located in Trax Park, the property is strategically situated in a core UK distribution location with excellent motorway, rail and port connections. It is close to the M18, A1(M) and M1 and benefits from good access to the ports of Hull and Grimsby. The property is adjacent to Doncaster Rail Freight Terminal. The site is a well-established Regional and National Distribution Centre location with a number of major occupiers located close by including Amazon, Wincanton, XPO Logistics, B&Q, and Tesco in addition to the Company's facilities let to Next and The Range.

Purpose-built in 2002 for Unilever, this is a high specification facility with a gross internal area of 262,885 sq ft and a site density of c.53%. It has an eaves height of between c.11 and 26 metres, extensive parking, is highly automated and has benefited from significant capital investment.

The property has been acquired with a new 15-year lease in place, subject to five yearly upward only rent reviews indexed to the Retail Price Index with a collar and cap in place.

Cushman & Wakefield represented Unilever.

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150.90p - a new trading high.

CLARIFICATION OF INVESTMENT PROCESS

Tritax Management LLP (the 'Investment Manager') is the appointed Authorised Investment Fund Manager ('AIFM') of the Company for the purposes of the Alternative Investment Fund Managers Directive ('AIFMD') and as such has been delegated authority by the Company, inter alia, to conduct portfolio management and risk management services on its behalf.

The Company wishes to clarify that going forward, whilst the Board will continue to review and offer advice on prospective investments and divestments of portfolio assets and will continue to monitor compliance with the Company's investment policy, the final investment or divestment decision in each case will be made by the Investment Manager in accordance with its delegated responsibility as the Company's AIFM.

This arrangement accords with the latest European Securities and Markets Authority ('ESMA') guidance regarding the performance of delegated investment management functions under the AIFMD.

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 April to 30 June 2017 of 1.60 pence per ordinary share, payable on or around 10 August 2017 to shareholders on the register on 21 July 2017. The ex-dividend date will be 20 July 2017.

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

The Company is targeting an aggregate dividend of 6.40 pence per ordinary share for the year ending 31 December 20171, payable quarterly, representing a 3.2 per cent. increase in the total dividend of 6.20 pence per Ordinary Share declared for 2016, in excess of the rate of RPI inflation for the period from 1 January 2016 to 31 December 2016. Dividends are expected to be fully covered by Adjusted Earnings from the Company's portfolio of properties.

Tritax Big Box REIT plc (ticker: BBOX), the only real estate investment trust dedicated to investing in very large logistics warehouse assets in the UK, will announce its half year results for the six months ended 30 June 2017 on Thursday, 10 August 2017.

Acquisition

ACQUISITION OF 124 ACRES OF PRIME LONDON DISTRIBUTION DEVELOPMENT LAND AT LITTLEBROOK, DARTFORD FOR £65 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged conditional contracts to purchase a development site at Littlebrook, Dartford. The freehold of the former Littlebrook Power Station site has been acquired, for a total consideration of £65million (excluding purchaser's costs), which is being funded by the Company from equity.

The site occupies a prime location within the M25 motorway and adjacent to the Dartford Thames River Crossing, providing the opportunity for the efficient distribution of goods across London and the home counties. With the Queen Elizabeth II Bridge and Dartford Tunnel to the east, the site has easy access via J1A to the M25 Motorway and the wider national motorway network. The site also has excellent rail and port connectivity.

The site, the location of a former power station which was decommissioned in 2015, extends to approximately 124 acres. The entire site is capable of supporting the potential development of approximately 1.7 million sq ft of logistics distribution buildings, including several Big Box logistics facilities of over 400,000 sq ft, together with some smaller urban logistics facilities. Part of the site benefits from existing B8 use class (storage and distribution) planning consent for c.517,000 sq ft of the expected c.1.7m sq ft total.

The Company, working in partnership with one of the leading specialist logistics developers in the UK, Bericote Properties, intends to apply for planning consent for the remaining land. The site will be developed in phases, with site preparation costs estimated at c. £25 million. The construction of new buildings will commence on a pre-let basis and the Company will retain the developed investment properties to further enhance its existing investment portfolio.

The Company aims to be able to commence building construction by Autumn 2018 and, working alongside Bericote Properties aims to deliver on a pre-let basis one of London's largest Big Box logistics parks inside the M25 motorway.

Colin Godfrey, Partner of Tritax, commented:

"We are delighted to be acquiring this prime distribution development site in Dartford. Large strategic sites for Big Box distribution buildings within the M25 are scarce and are in strong demand from occupiers. The site is capable of supporting several Big Box distribution facilities as well as smaller urban logistics facilities for serving the London and South East markets in particular. The development of the buildings, in partnership with Bericote, will only commence on a pre-let basis and provide an opportunity for the Company to enhance our existing portfolio with further prime logistics investments at an attractive yield on cost."

Liberum Capital Hold 149.55 135.00 135.00 Reiterates

Half-year Report

Financial highlights
· Fully covered dividends declared for the six-month period of 3.20 pence per share, putting the Company on track to hit its full-year target of 6.40 pence2.

· EPRA net asset value ("NAV") per share increased by 4.30 pence or 3.3% to 133.30 pence as at 30 June 2017 (31 December 2016: 129.00 pence).

· Profit before taxation has increased by 49.9% to £80.53 million (30 June 2016: £53.72 million).

· Contracted annual rent roll increased to £108.65 million (31 December 2016: £99.66 million), including all forward funded development commitments.

· Portfolio independently valued at £2.10 billion3 as at 30 June 2017, including all forward funded development commitments.

· Total return for the period was 5.78% compared to the FTSE EPRA/NAREIT UK REITs Index total return of 4.09%.

· EPRA cost ratio continued to fall, to 13.7%, reflecting the benefits of increased scale (31 December 2016: 15.8%).

· Further diversified our sources of borrowing, with a new £90 million, long-term, fixed-rate facility with PGIM. Loan to Value ("LTV") as at 30 June 2017 was 27.0% (31 December 2016: 30.0%).

· Market capitalisation of approximately £2.0 billion as at 30 June 2017.

2 This is a target only not a profit forecast. There can be no assurances that the target will be met and it should not be taken as an indicator of the Company's expected or actual future results
3 See note 10 for reconciliation


Operational highlights
· Acquired three Big Boxes with an aggregate purchase price of £142.47 million, adding two new Customers to the portfolio.

· Three forward funded pre-let developments reached practical completion in the year to date, with a total value of £155 million.

· Average net initial yield of the property portfolio at acquisition is 5.7%, against our period end valuation of 4.9% net initial yield.

· At the period end, the portfolio comprised 38 assets, covering more than 19.6 million sq ft of logistics space.

· The portfolio was fully let, or pre-let and income producing, during the period.

· At 30 June 2017, the weighted average unexpired lease term ("WAULT") was 15.1 years, against our target of at least 12 years.

· Raised £350 million of equity in May 2017, through a substantially oversubscribed share issue.

Post Balance Sheet Highlights

· On 24 July 2017, exchanged conditional contracts to purchase a 124 acre development site at Littlebrook, Dartford for £62.5 million.

Colin Godfrey, Fund Manager of Tritax Big Box REIT plc, commented:

Heightened investment demand and asset management have helped enhance the value of our portfolio and we consider that market values may improve further. Whilst our asset valuations have benefitted from compressed yields, the tightening investment market means that patience, capital pricing discipline and stock selection will be increasingly important in underpinning our future performance. Nonetheless, investments in the logistics sector remain attractive compared to other asset classes and the Company is well positioned and well capitalised to take advantage with an identified, largely off-market, pipeline of opportunities. Looking forwards, maintaining the quality of our investment purchases will be key.

The logistics market continues to dynamically influence the UK economy. We believe that the development of the Big Box logistics market remains in its infancy, with operational efficiencies and e-commerce likely to drive occupational demand for some time to come.

Investors seeking robust values and income protection are drawn by long term lease commitments and strong market fundamentals, but also the possibility of maintaining the impressive levels of rental growth witnessed during the last couple of years. These positive attributes are expected to continue, underpinning our ambition to deliver attractive and growing, fully covered, dividends. We view the remainder of 2017 and 2018 with optimism.


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HL view - Tritax - Dividends rise, with more asset purchases to come

Acquisition

ACQUISITION OF THE ROYAL MAIL DISTRIBUTION FACILITY AT DANES WAY,

DAVENTRY INTERNATIONAL RAIL FREIGHT TERMINAL, NORTHAMPTONSHIRE

FOR £48.82 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts to acquire a National Distribution Centre at Danes Way, Daventry International Rail Freight Terminal ("DIRFT"), Northamptonshire let to Royal Mail Group Limited ("Royal Mail"), the main subsidiary of Royal Mail plc, one of the UK's leading postal and delivery companies and the UK's designated universal postal service provider. The total consideration is £48.82 million (excluding purchaser's costs), reflecting a net initial yield of 5.0%. The purchase is being funded from equity.

Purpose-built in 2003, this modern, high specification parcel delivery hub with a 24/7 on site operation provides a centrally located and adaptable National Distribution Centre to all Royal Mail parcel hubs across the UK. The cross-docked property has a gross internal area of 272,603 sq ft, an eaves height of between 6 and 13 metres, 360-degree circulation and an extensive service yard area, providing an exceptionally low site cover of c.18%. The investment has been acquired with an unexpired lease term of approximately 6 years, subject to annual upward only rent reviews indexed to the Retail Price Index capped at 3%. The next rent review is due in August 2018.

Situated within the 'Golden Triangle' of logistics, in a prime location, the property has excellent road, airport and rail connectivity. DIRFT is a rail-road intermodal freight terminal with associated logistics in Northamptonshire. DIRFT is located at the intersection of junction 18 of the M1 motorway, the A5 and A428 roads being 4 miles east of Rugby and 6 miles north of Daventry; it has a rail connection from the Northampton loop of the West Coast Main Line to other National and European Rail Freight Terminals. As an established core logistics location, it has attracted a significant number of major occupiers, including DHL, Eddie Stobart Logistics, Sainsbury's and Tesco. The Company recently acquired the Royal Mail's RDC for the Midlands at Atherstone.

DTRE represented the Company on the acquisition.

Colin Godfrey, Partner of Tritax, commented:

"We are very pleased to have acquired our second Distribution Centre let to Royal Mail, which with annual upward rent reviews linked to RPI offers the potential for strong and frequent rental growth. The modern, high specification facility, which is situated in an established core logistics location, also has the potential for future value enhancement."

DIVIDEND DECLARATION
The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) has today declared an interim dividend in respect of the period from 1 July to 30 September 2017 of 1.60 pence per ordinary share, payable on or around 16 November 2017 to shareholders on the register on 20 October 2017. The ex-dividend date will be 19 October 2017.

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

The Company is targeting an aggregate dividend of 6.40 pence per ordinary share for the year ending 31 December 20171, payable quarterly. Dividends are expected to be fully covered by Adjusted Earnings from the Company's portfolio of properties.

ACQUISITION OF TWO MODERN LOGISTICS FACILITIES AT PROLOGIS PARK, STOKE-ON-TRENT, STAFFORDSHIRE

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has completed contracts with ProLogis European Finance XI Sarl to acquire two modern Big Box logistics facilities at Prologis Park, Stoke-on-Trent, Staffordshire, let to Marks and Spencer plc ("M&S"), one of the UK's leading multichannel retailers, and Dunelm (Soft Furnishings) Ltd ("Dunelm"), the UK's number one homewares retailer. The combined net purchase price is £78.5 million and will be funded from equity.

Stoke-on-Trent has attracted major distribution occupiers including Asda, JCB, Michelin, New Look, Sainsbury's and TK Maxx. This core logistics location has excellent connectivity to the M6 motorway for access to Birmingham and Manchester city airports and the Port of Liverpool.

Marks and Spencer plc National Distribution Centre
Built to a high specification in 2008, this National Distribution Centre is let to Marks and Spencer plc, the main subsidiary of FTSE100 constituent Marks and Spencer Group plc, one of the UK's leading multichannel retailers. The net purchase price reflected a net initial yield of 5.43% on the corporate acquisition.

The facility is one of M&S's five National Distribution Centres for general merchandise and onward fulfilment to Regional Distribution Centres. The property, which has benefited from significant capital investment from the occupier, has an eaves height of c.12 metres, a gross internal floor area of 382,594 sq ft with a site cover of approximately 57%.

The property has been acquired with an unexpired lease term of approximately 8.5 years and has a lease break or rent review in c.3.5 years. The lease is subject to five yearly upward only open market rent reviews. The passing rent reflects £5.24 per sq ft.

Dunelm (Soft Furnishings) Ltd National Distribution Facility
The modern and versatile facility comprises two interconnected buildings with a gross internal floor area totalling approximately 503,389 sq ft, which are let to Dunelm (Soft Furnishings) Ltd, the UK's number one homewares retailer. The net purchase price reflected a net initial yield of 5.38% on the corporate acquisition.

These two sortation and distribution facilities, built to a high specification in 2004 and 2010 respectively, are interlinked and work in conjunction with the Company's new Dunelm National Distribution Centre located in nearby Sideway, Stoke-on-Trent, which was forward funded by the Company in June 2015, and together form Dunelm's dedicated national distribution hub. The properties have all benefited from significant capital investment by the occupier. Each building has an eaves height of c.12 metres, good parking and a site cover of approximately 56%.

The properties are being acquired with two coterminous leases, each with an unexpired lease term of approximately three years. There are no further rent reviews. The passing rent reflects c. £4.56 per sq ft which is highly reversionary against current market rents in this location.

Colin Godfrey, Partner of Tritax, commented:

"We are very pleased to have acquired these modern and adjacent Big Box distribution facilities, situated in an established core logistics location with two high quality tenant covenants in M&S and Dunelm. They build on our strong working relationship with both retailers.

These Value Add investments provide opportunity for rental growth and the short unexpired lease terms offer potential for capital value enhancement from either lease renewal or reletting. Value Add assets now constitute 17% of our portfolio by value."

How to cash in on the UK warehouse boom: Funds that made a shed load by taking advantage of the rise of online shopping

Refinancing

£500 MILLION DEBUT SENIOR UNSECURED NOTES AND NEW £350 MILLION UNSECURED REVOLVING CREDIT FACILITY

Further to the announcement on 23 November 2017, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the pricing of senior unsecured notes in an aggregate principal amount of £500 million and for an average term of 11.5 years (together, the "Notes") which are to be issued under the Company's £1.5 billion Euro Medium Term Note Programme (the "EMTN Programme"). The Company is also pleased to announce a proposed new £350 million unsecured revolving credit facility (the "New Facility") to be entered into with its core relationship lender group and selected new lenders. Subject to the issuance of the Notes and entering into the New Facility, it is proposed that the majority of the Company's secured debt, including the existing £550 million secured syndicated facility, will be repaid in full.

Following the issue of the Notes, entering into the New Facility and the repayment of the majority of the existing secured debt, the Company's weighted average debt maturity will increase from 4.5 years to 8.4 years. The Company's weighted average running cost of debt will become 2.38 per cent. and will primarily comprise fixed rate debt.

Debut Issue of Notes:

The Company has priced two tranches of Notes, comprising (i) £250 million senior unsecured notes maturing on 14 December 2026 (the "2026 Notes") and (ii) £250 million senior unsecured notes maturing on 14 December 2031 (the "2031 Notes") which are to be issued under its EMTN Programme. The Notes are expected to be rated Baa1 by Moody's Investors Service Limited.

The Notes are expected to be (i) issued on 14 December 2017 upon the satisfaction or waiver of customary conditions precedent; and (ii) admitted to the Irish Stock Exchange's Official List and to trading on the Global Exchange Market of the Irish Stock Exchange upon issue.

The 2026 Notes and the 2031 Notes will bear interest at a rate of 2.625 per cent. per annum and 3.125 per cent. per annum, respectively.

New Facility:

The New Facility has an initial maturity of five years and can be extended (subject to obtaining the prior consent of the lenders) by two further years to a maximum maturity of seven years. The New Facility also contains an uncommitted £200 million accordion option. The New Facility is expected to be entered into shortly before the issue of the Notes on 14 December 2017 and is subject to satisfaction or waiver of customary conditions precedent.

The New Facility has an opening margin of 1.10 per cent. per annum over LIBOR.


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Non-exec buying 100k at 143.9.

I'm watching carefully

EXTENSION OF DEBT FACILITY

Further to the Company's refinancing announcement on 1 December 2017, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has agreed terms to extend the maturity on its existing loan facility (the "Facility") with Landesbank Hessen-Thüringen Girozentrale ("Helaba").



The £50.87 million Facility is secured on the Ocado distribution warehouse at Erith and has been extended from July 2023 to July 2025, which further extends the Company's weighted average debt maturity. The margin payable on the facility will remain unchanged.

Looking to try 150 again (high was/is 151.40p)

Completes Contracts on Forward Fund Investments

COMPLETES CONTRACTS ON THE FORWARD FUNDED INVESTMENT IN TWO NEW DISTRIBUTION FACILITIES AT WARTH PARK, RAUNDS, NORTHAMPTONSHIRE

PRE-LET TO HOWDEN JOINERY GROUP PLC

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has completed contracts for the site acquisition and forward funding for the development of two new distribution warehouse facilities at Warth Park, Raunds. The properties are pre-let in their entirety under two separate 30 year leases to Howdens Joinery Group Plc ("Howdens"), the parent group of the leading supplier of kitchens in the UK.

Contracts were originally exchanged, conditional on planning consent, in December 2016. Completion was delayed due to a prolonged challenge to the planning consent which has now been cleared. The agreed investment price has been amended to £103.7 million, to reflect a longer construction period due to the delayed planning consent and revised construction programme. The purchase price represents a net initial yield of 5.0% (net of land acquisition costs) upon completion of the leases.

Warth Park, at Raunds, Northamptonshire is strategically located on the A45 corridor close to J13 of the A14, which provides access to the ports of Felixstowe and Harwich and also directly links to the A1(M) dual carriageway and the M1 motorway. The two distribution facilities, which will stand adjacent to one another and to the Company's existing Howdens facility, are under separate freehold titles and will be completed to a high specification with target gross internal floor areas of 657,000 sq ft and 300,000 sq ft., respectively.

Both buildings will have an eaves height of 15 metres and a combined site cover of approximately 53%. Completion of the construction of the two facilities is due to take approximately 21 months with completion of the two new leases expected by winter 2019.

Colin Godfrey, Partner of Tritax, commented:

"Following the successful completion of the first Howdens building, which the Company agreed to forward fund in September 2015, we are delighted to be investing on the second phase of Howdens' two new distribution centres. Once completed, these three high specification facilities totalling 1.6 million sq ft will provide Howdens with a 'centre of excellence' for its national supply chain operations.

This investment is in an established logistics location with a strong covenant, adds to our portfolio's core foundation income and brings our total portfolio to 48 assets."

Acquisition

ACQUISITION OF THE AO WORLD PLC NATIONAL DISTRIBUTION CENTRE

AT WESTON ROAD, CREWE, CHESHIRE FOR £36.10 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has acquired a National Distribution Centre at Weston Road, Crewe, Cheshire. The property is let to Expert Logistics Ltd ("Expert Logistics"), a wholly owned subsidiary of AO World Plc ("ao.com"), a leading European online electrical retailer listed on the London Stock Exchange, which will act as guarantor. The total consideration is £36.10 million.

Built in 2006, this modern, high specification cross docked facility is located diagonally opposite the tenant's other distribution facility and together form ao.com's UK National Distribution hub. The versatile property, which has benefited from significant capital investment by the tenant, has a total gross internal area of 387,541 sq ft., an eaves height of 12.5 metres, an extensive yard area and parking, with a site cover of 49%.



The facility is strategically positioned in a core national distribution location, with excellent access to the M6 and M1 via the A50 dual carriageway, with good connectivity to Manchester and Liverpool airports and the Port of Liverpool. The immediate location has attracted major logistics occupiers including Bargain Booze, Bentley Motors Limited and Rymans.

The property is being acquired with an unexpired lease term of approximately nine years, which is subject to five yearly upward only open market rent reviews. The next rent review is due in April 2021.

DTRE represented the Company on the acquisition.


Colin Godfrey, Partner of Tritax, commented:

"This dedicated e-commerce facility, which plays an integral role in ao.com's national distribution network, further diversifies our portfolio by tenant and geography. Against the backdrop of strong tenant demand and the limited supply of modern Big Box National Distribution assets, this investment offers the potential for attractive rental growth in 2021."

Trading Statement

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to provide the following trading update ahead of the publication of the Company's results for the year ended 31 December 2017, which are to be published on Wednesday 7 March 2018.



HIGH QUALITY PORTFOLIO FOCUSED ON BIG BOX LOGISTICS ASSETS

· Acquired 11 new Big Box investments in 2017 (including one pre-let forward funded development), with an aggregate purchase price of £435 million, along with 124 acres of prime London distribution development land for a total consideration of £62.5 million (excluding purchaser's costs)

· Four pre-let forward funded developments, totalling 2.0 million sq ft., reached practical completion in 2017

· As at 31 December 2017, £2.46 billion1 (including forward funded commitments) invested in a portfolio of 46 Big Box assets (the "Portfolio") as well as the 124 acres of development land at Littlebrook, Dartford

o Portfolio 100% let or pre-let to 36 institutional quality tenants with contracted annual rental income of £124.6 million and all leases provide for upward only rent reviews2

o Weighted average purchase yield since inception of 5.7%2

o Weighted average unexpired lease term across the portfolio of 13.9 years2

· Since 31 December 2017, a further 3 Big Box assets have been acquired with an aggregate purchase price of £139.8 million, increasing the Portfolio to a total of 49 assets and extending the weighted average unexpired lease term across the portfolio to 14.5 years2

FINANCING ACTIVITY REDUCING COST OF DEBT AND EXTENDING MATURITY

· Debut issue of £500 million senior unsecured loan notes, with an average term of 11.5 years, rated Baa1 by Moody's following the establishment of a £1.5 billion Euro Medium Term Note Programme

· New five-year £350 million unsecured revolving credit facility, with an uncommitted £200 million accordion option, and the repayment in full of £550 million secured syndicated facility due 2020 and £7.0 million and £11.6 million Helaba facilities due 2019

· Weighted average term to maturity of debt facilities of 8.9 years as at 31 December 2017 (4.8 years as at 31 December 2016). Weighted average running cost of debt of 2.38% pa4, primarily comprising fixed rate debt

· Successful significantly oversubscribed £350 million equity issue in May 2017



PROGRESSIVE DIVIDEND POLICY

· The Company is targeting an aggregate dividend of 6.4 pence per share for the year ended 31 December 2017, payable quarterly, of which 4.8 pence per share has been paid for the nine months ended 30 September 20173

· Consistent with its progressive dividend policy, the Company today confirms it is targeting an aggregate dividend of 6.7 pence per ordinary share for the year ending 31 December 20183:

o A 4.7% increase over the dividend target of 6.4 pence per Ordinary Share for 2017

o In excess of the rate of RPI inflation over the 12 month period to 31 December 2017

o Dividends are expected to be fully covered by Adjusted earnings from the Company's portfolio

Colin Godfrey, Partner of Tritax, said:

"We continue to implement the Company's strategy, further diversifying our portfolio by geography and tenant whilst remaining patient and disciplined in our approach. During 2017, whilst maintaining a high proportion of Foundation assets to underpin the portfolio's core, low-risk income (74% of the portfolio by value), we have also sought to selectively acquire some Value Add opportunities, which included 124 acres of prime development land at Dartford, which offer the potential to deliver further value to our shareholders in 2018 and beyond.

Our increased scale brought further strategic benefits including the issuance of our £500m debut unsecured loan notes, which nearly doubled our average term to maturity at an attractive fixed cost of debt.

The compelling fundamentals of our market remain largely undisturbed by the ongoing uncertainties associated with the economic and geopolitical backdrop. The weight of occupier and investor demand for Big Box logistics assets, coupled with a lack of meaningful supply, ensured that values and rental growth remained robust during 2017, with evidence suggesting that such attractive dynamics are likely to continue to support the performance of the sector into 2018."

Liberum Capital Hold 148.95 150.00 150.00 Reiterates

BBOX Exchanges Contracts on Forward Fund Investment

FORWARD FUNDED INVESTMENT IN A NEW PRE-LET LOGISTICS FACILITY AT MIDLANDS LOGISTICS PARK, CORBY FOR £81.8 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that it has exchanged contracts, conditional on receiving full planning consent, to provide forward funding for the development of a new regional distribution centre at Midlands Logistics Park ("MLP"), Corby. The development asset is pre-let to Eddie Stobart Limited ("Eddie Stobart"), one of the UK's leading logistics businesses working across the full supply chain in the UK and Europe, a wholly owned subsidiary of ESLL Group Limited, which will act as guarantor. The development represents an investment of £81.8 million.



The site forms part of MLP, a new logistics park to the south of Corby in the East Midlands with direct access to the A43 dual carriageway, which has recently been upgraded and provides significantly improved access to the M1 southbound, M6 and A1(M). MLP is capable of accommodating approximately 2.6 million sq ft. of logistics space with outline planning permission granted. Eddie Stobart is the first tenant to commit to a new facility at MLP, which has a 500-metre rail siding and yard, allowing potential future connection to the rail network. This bi-modal potential capacity of MLP would provide enhanced connections for the site to the UK's ports and cities. Corby has attracted a number of major occupiers including British Car Auctions, Morrisons, Matalan, Smyths Toys, Staples and Eddie Stobart's iForce business.

The property will be purpose-built to a high specification, with a gross internal floor area of 844,000 sq ft. and an eaves height of 18 metres, together with extensive parking.

Upon practical completion of the construction, targeted for winter 2018, the property will be leased to Eddie Stobart on a new 20-year lease, subject to five yearly upward only rent reviews indexed to the Retail Price Index, with a cap and collar. The first rent review is due in 2023. From completion of the land purchase and during the construction phase, the Company will receive an income return equivalent to the rent.

Colin Godfrey, Partner of Tritax, commented:

"We are very pleased to be investing in this new regional distribution centre pre-let to Eddie Stobart, an established 3PL operator with long standing customer relationships. This is the first development in a new East Midlands logistics park south of Corby, which is benefiting from recent significant upgrades to the adjacent road network and offers the potential for rail connectivity. The off-market investment further diversifies the Company's portfolio by geography and tenant, whilst increasing the Company's WAULT."

Tritax Big Box REIT plc (ticker: BBOX), the only real estate investment trust dedicated to investing in very large logistics warehouse assets in the UK, will announce its full year results for the 12 months ended 31 December 2017 on Wednesday, 7 March 2018.

A Company presentation for analysts and investors will be held at 9.30am on the day at the offices of Newgate, Sky Light City Tower, 50 Basinghall Street, EC2V 5DE. The presentation will also be accessible via a live conference call and on-demand via the Company website: http://tritaxbigbox.co.uk/investors/#results-centre.

FULL YEAR RESULTS

Financial highlights

· Dividends declared in relation to 2017 totalled 6.40 pence per share, in line with our target.

· EPRA net asset value per share increased by 10.3% to 142.24 pence at 31 December 2017 (31 December 2016: 129.00 pence).

· Total return (being the increase in EPRA NAV plus dividends paid) for the year was 15.2%, compared to our target of in excess of 9% per annum over the medium term.

· Adjusted earnings per share totalled 6.37 pence per share.

· Market capitalisation of £2.03 billion as at 31 December 2017.

· Portfolio independently valued at £2.61 billion as at 31 December 2017, across 46 assets plus 114 acres of strategic land.

· The portfolio's contracted annual rent roll has increased to £125.95 million (31 December 2016: £99.66 million), which includes all forward funded commitments.

· Further diversified our sources of borrowing, with our debut unsecured loan notes totalling £500 million. Weighted average unexpired debt term extended to 8.9 yrs (2016: 4.8 yrs). The Loan to Value (LTV) as at 31 December 2017 was 26.8%.

· A reducing EPRA cost ratio of 13.1% (2016: 15.8%), reflecting the benefits of increased scale.

· Raised £350 million of equity during 2017, through a substantially oversubscribed share issue.

Operational highlights

· Acquired 11 Big Boxes during the year with an aggregate purchase price of £434.99 million, further diversifying the portfolio by geography and tenant.

· As at the year-end our portfolio comprised 46 assets, covering more than 22.7 million sq ft of logistics space.

· 114 acres of strategic land acquired at Littlebrook, Dartford for £62.5 million.

· Average net initial yield of the portfolio at acquisition is 5.7%1, against our year-end valuation of 4.6%.

· Our portfolio was fully let, or pre-let and income producing during the year.

· At the year end, the weighted average unexpired lease term ("WAULT") was 13.9 years1, against our target of at least 12 years.

Post Balance Sheet Activity

· Progressive dividend target of 6.70 pence per share announced for 2018.

· A further three Big Box assets acquired totalling £139.81 million.

· One pre-let forward funded asset conditionally exchanged totalling £81.8 million.

1 Includes all 46 assets held at 31 December 2017; excludes Littlebrook, Dartford strategic land.

Richard Jewson, Chairman of Tritax Big Box REIT plc, commented:

"We have a sector-leading portfolio of UK Big Box assets that are benefiting from structural change driven by increasing e-commerce penetration, and the operational and financial benefits which they can provide to our Customers. The fundamentals of our market remain positive and are largely unaffected by current geopolitical and economic uncertainties. Despite the uncertainties it brings, Brexit may provide a silver lining, since with increased border controls our Customers will require more warehousing domestically, further supporting our business case.

Through the Manager's excellent relationships, we see opportunities to acquire high-quality assets and forward-funded developments to further diversify our portfolio. The continued imbalance between occupational supply and demand means that we expect rental growth and values to remain robust in 2018. The assets we acquired towards the end of 2017 will add to our rental income in 2018. Coupled with our largely fixed cost base, this will contribute to earnings growth and support our progressive dividend target of 6.70 pence for 2018."

PROPOSED PLACING TO FUND ACQUISITION PIPELINE AND ASSET MANAGEMENT INITIATIVES

The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) today announces a proposed non pre-emptive placing to institutional investors of up to 109,364,308 new ordinary shares in the capital of the Company (the "Placing Shares"), representing up to approximately 8.0 per cent. of the Company's existing issued share capital (the "Placing") at a price of 142.25 pence per Placing Share (the "Placing Price").

The Placing Price represents a discount of approximately 2.9 per cent. to the closing price of 146.5 pence per ordinary share at the close of business on 17 April 2018.

The Placing is being conducted through an accelerated bookbuilding process (the "Bookbuild") which will be launched immediately following this announcement. Jefferies International Limited ("Jefferies") is acting as sole bookrunner in connection with the Placing and as Joint Financial Adviser together with Akur Limited ("Akur").

Highlights of the Placing

· Intention to raise gross proceeds of up to approximately £155.6 million.

· The Manager has access to a pipeline of potential investments which significantly exceeds the targeted geared proceeds from the Placing.

· In particular, the Company is currently in advanced negotiations in relation to two specific target assets which the proceeds of the Placing (together with gearing) are expected to be used to fund. These assets:

o meet the Company's investment criteria and are available for potential acquisition in the near term; and

o are intended to further diversify the Company's existing portfolio by tenant and/or geography.

· The Manager has also identified several specific asset management initiatives within the Company's existing portfolio that require capital investment, including refurbishment work and building extensions.

· The Manager will continue to exercise robust capital discipline to deliver value at the point of acquisition or investment.

· The Placing Shares, when issued, will rank pari passu with the existing ordinary shares including the right to receive all dividends and other distributions declared, made or paid after the date of issue, including the Q1 2018 dividend of 1.675 pence per ordinary share, anticipated to be paid in May 2018.

Background to the Placing

During the financial year ended 31 December 2017, the Company acquired 11 new Big Box investments (including one pre-let forward funded development), with an aggregate purchase price of approximately £435 million, along with 114 acres of prime London distribution development land for a total consideration of £62.5 million (in each case excluding purchaser's costs).

The audited diluted EPRA Net Asset Value per ordinary share as at 31 December 2017 was 142.24 pence (diluted Basic Net Asset Value per ordinary share: 141.44 pence). This represents an increase of 10.3 per cent. as compared to the audited EPRA Net Asset Value per ordinary share as at 31 December 2016 of 129.00 pence and a total return of 15.2 per cent. over the 12-month period.

Since 31 December 2017, the Company has completed the acquisition of a further three Big Box assets, including the two forward funded development assets pre-let to Howdens, in Raunds, which were delayed as a result of a challenge to the planning consent, with an aggregate purchase price of approximately £140 million. The Company also exchanged conditional contracts on one pre-let forward funded development for approximately £82 million. When including these assets, the Company's portfolio (the "Portfolio") increases to a total of 50 assets and the weighted average unexpired lease term across the Portfolio extends to approximately 14.5 years1.

Taking account of one additional investment currently under offer and in exclusivity, the Company is substantially fully invested and geared (including the Group's existing commitments to forward funded development assets and development land). In light of the current acquisition pipeline and identified asset management initiatives, the Company intends to raise equity by way of the Placing to capitalise on these investment opportunities.

Dividend policy

Consistent with its progressive dividend policy, the Company is targeting an aggregate dividend of 6.7 pence per ordinary share for the year ending 31 December 20182, representing an increase of 4.7 per cent. over the dividend of 6.4 pence per ordinary share in 2017, which is in excess of the rate of RPI inflation over the 12-month period to 31 December 2017. Dividends are expected to be fully covered by adjusted earnings from the Group.

Details of the Placing

Under the terms of the Placing, the Company intends to issue up to 109,364,308 Placing Shares pursuant to the authorities granted at the Company's Annual General Meeting held on 17 May 2017 and conditional inter alia, on the Placing Shares being admitted to listing on the premium listing segment of the Official List of the UK Financial Conduct Authority (the "FCA"), and to trading on the main market for listed securities of the London Stock Exchange plc (the "London Stock Exchange") (together, "Admission"). The Placing is also conditional upon the placing agreement between the Company, Jefferies and Akur (the "Placing Agreement") becoming unconditional and not being terminated. Further details of the Placing Agreement can be found in the terms and conditions of the Placing contained in the Appendix to this announcement.

The Placing is subject to the terms and conditions set out in the Appendix (which forms part of this announcement, such announcement and the Appendix together being the "Announcement"). Members of the public are not entitled to participate in the Placing.

Jefferies will today commence a bookbuild process in respect of the Placing at the Placing Price. The Placing will be non pre-emptive and the book will open with immediate effect following this Announcement and is expected to close no later than 3:00 p.m. (London time) on 19 April 2018 but may be closed earlier or later at the absolute discretion of Jefferies and the Company. Details of the number of Placing Shares to be issued pursuant to the Placing will be determined by the Company (following consultation with Jefferies) and will be announced as soon as practicable after the close of the Bookbuild.

If the number of applications for Placing Shares exceeds the maximum number of Placing Shares available under the Placing it may be necessary to scale back applications. In such event, Placing Shares will be allocated at the discretion of Jefferies in consultation with the Company.

Application will be made for the Admission of the Placing Shares. Subject to Admission becoming effective, it is expected that settlement of subscriptions by placees in respect of the Placing Shares and trading in the Placing Shares will commence at 8.00 a.m. on 24 April 2018, or such later time and/or date as may be announced by the Company after the close of the Bookbuild.

By choosing to participate in the Placing and by making an oral and legally binding offer to acquire Placing Shares, investors will be deemed to have read and understood this Announcement in its entirety and to be making such offer on the terms and subject to the conditions in such Announcement, and to be providing the representations, warranties and acknowledgements contained in the Appendix.

Your attention is drawn to the detailed terms and conditions of the Placing set out in the Appendix.

The Directors consider that the proposed use of the proceeds of the Placing is in compliance with the Statement of Principles on Disapplying Pre-Emption Rights published by the Pre-Emption Group in 2015.

Notes

1 Excludes development site at Littlebrook, Dartford.

2 This is a target only and not a forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's expected or actual future results. Investors should not place any reliance on these targets.

Numis Hold 148.25 150.00 150.00 Retains

All looking quite positive.

A new high @155.50p

Tritax Big Box REIT plc (ticker: BBOX), the only real estate investment trust dedicated to investing in very large logistics warehouse assets in the UK, will announce its half year results for the six months ended 30 June 2018 on Thursday, 9 August 2018.

A Company presentation for analysts and investors will be held at 9.30am on the day at the offices of Newgate, Sky Light City Tower, 50 Basinghall Street, EC2V 5DE. The presentation will also be accessible via a live conference call and on-demand via the Company website: http://tritaxbigbox.co.uk/investors/#results-centre.

Those wishing to attend the presentation or access the live conference call are kindly asked to contact Newgate on tritax@newgatecomms.com or by telephone on +44 (0) 20 7680 6550.

Interim Results for six months ended 30 June 2018

· Fully covered dividends declared for the six-month period of 3.35 pence per share, putting the Company on track to hit its full-year target of 6.70 pence1.

· Adjusted earnings per share for the six-month period of 3.38 pence per share2, an increase of 5.3% over H1 2017.

· EPRA net asset value ("NAV") per share increased by 3.98 pence or 2.8% to 146.22 pence as at 30 June 2018 (31 December 2017: 142.24 pence).

· Total return for the period was 5.10%, comparing well against the Company's medium-term target of at least 9% per annum.

· Portfolio independently valued at £2.90 billion3 as at 30 June 2018 (31 December 2017: £2.61 billion), including all forward funded development commitments. This reflected a like-for-like valuation uplift during the six-month period of 1.9%.

· Operating profit before changes in fair value of investment properties has increased by 34.7% to £57.42 million (30 June 2017: £42.64 million).

· Contracted annual rent roll increased to £139.36 million (31 December 2017: £125.95 million), including all forward funded development commitments.

· At the period end, the Group's independent valuer, CBRE, assessed the portfolio's headline Estimated Rental Value (ERV) 5.6% above contracted annual rent, at £147.19 million pa.

· EPRA cost ratio maintained at 13.7%, when compared to the first half of last year (30 June 2017: 13.7%).

· At 30 June 2018, the Group had a loan to value (LTV) ratio of 25% (31 December 2017: 27%). This compares with our medium-term target of up to 40% when fully invested and geared. The Group has a largely unsecured debt platform which provides the flexibility to raise further liquidity across multiple debt markets.

· As a consequence of its fixed-rate debt and hedging policy, the Group has a capped cost of debt of 2.66% and an all-in running cost of borrowing of 2.44% at the period end.



Operational highlights

· At 30 June 2018, the weighted average unexpired lease term ("WAULT")5 6 was 14.1 years.

· Average net initial yield of the property portfolio at acquisition is 5.6%5, against our period end valuation of 4.6% net initial yield5.

· Acquired four Big Boxes off market with an aggregate purchase price of £221.60 million, a WAULT of 23 years and adding two new Customers to the portfolio.

o Three of the assets acquired in the period were forward funded pre-let developments with an average unexpired lease term of 26 years. These three assets will add a total of approximately 1.8 million sq ft of new Big Box logistics space to the portfolio and increase the rent roll by £9.44 million pa.

o +7.6%7 valuation increase over aggregate purchase price of the four assets acquired in the period.

· At the period end, the portfolio comprised 50 assets, which are well diversified by building size, geography and Customer and covering more than 24.9 million sq ft of logistics space5.

· The portfolio was fully let, or pre-let and income producing, during the period5.

· Raised £155.57 million of equity in April 2018, through a substantially oversubscribed placing.

· Good progress with our strategic land at Littlebrook, Dartford, within the M25, where demolition and site preparation continue to plan.



Post Balance Sheet Highlights

· On 3 July 2018, the Company completed on a new forward funded development of a new logistics facility pre-let to Amazon UK Services Limited for an investment price of £120.70 million.

· Assets under offer, in exclusivity and in solicitors' hands totalling approximately £160 million. We expect to exchange contracts on these opportunities over the coming months.



1 This is a target only not a profit forecast. There can be no assurances that the target will be met and it should not be taken as an indicator of the Company's expected or actual future results

2 See note 7, for reconciliation

3 See note 10 for reconciliation. The portfolio value includes capital commitments of £135.1 million on forward funded developments

4 Operating profit before changes in fair value of investment properties

5 Excluding the land at Littlebrook, Dartford, which is currently non-income producing

6 Weighted Average Unexpired Lease Term ('WAULT')

7 Excluding associated purchase costs the valuation increase is 7.6%. Including associated purchase costs the valuation increase is 6.1%

Liberum Capital Hold 152.45 165.00 - Reiterates

NEW £250 MILLION SENIOR UNSECURED BANKING FACILITY

Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce it has entered into a new £250 million senior, short-term, unsecured banking facility (the "New Facility") with a syndicate of its relationship lenders comprising Barclays Bank PLC, The Royal Bank of Scotland International Limited and Banco Santander, S.A., London Branch.

The New Facility will provide the Company with committed capital, at an attractive margin, to assist in the acquisition of investment opportunities in its strong investment pipeline. The New Facility is for a term of 12 months, with an option to extend by a further six months, at the sole option of the Company.

The Company was advised on the financing by Lazard & Co., Limited.

Frankie Whitehead, Head of Finance for Tritax Big Box REIT plc, commented:

"This well supported new revolving credit facility gives the Company additional financing to commit to our near-term pipeline and support our growth. It provides access to further flexible liquidity, at a low cost of borrowing.

The continued backing from our relationship banks demonstrates the strength of support for our strategy and the strong fundamentals of our sector."

02 Oct 18 Barclays Capital Equal weight 147.35 - 160.00 Initiates/Starts

Acquisition

FORWARD FUNDED INVESTMENT IN A NEW PRE-LET LOGISTICS FACILITY AT MIDLANDS LOGISTICS PARK, CORBY, FOR £89.3 MILLION

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the Company has exchanged contracts, conditional on receiving full planning consent, to provide forward funding for the development of a new National Distribution Centre at Midlands Logistics Park ("MLP"), Corby. The property is pre-let to BSH Home Appliances Limited ("BSH"), part of the Bosch Group. The Bosch Group is the largest manufacturer of home appliances in Europe and one of the leading companies in the sector worldwide with high quality brands that include Bosch, Gaggenau, Neff and Siemens. The development represents an investment of £89.3 million, reflecting a net initial yield of 5.2% (net of acquisition costs to the Company).

The property will comprise a cross-docked facility with 360-degree circulation, a minimum eaves height of 15 metres, together with extensive parking and a site cover of approximately 50%. The new prime facility will be purpose-built to a high specification with a gross internal area of c. 945,375 sq ft; it will become BSH's largest UK distribution centre.

The site, situated adjacent to the pre-let Eddie Stobart Limited property owned by the Company, forms part of MLP, a new logistics park to the south of Corby. The property benefits from direct access onto the A43 dual carriageway, which has recently been upgraded, thereby providing improved access to the M1 southbound, the M6 and A1(M) via the A14 dual carriageway. MLP is capable of potentially accommodating approximately 5 million sq ft. of logistics space and benefits from a 500-metre rail siding and yard for a potential future connection onto the rail freight network. This potential bi-modal connection for MLP would provide enhanced connectivity for the site to the UK's ports and cities. Corby has attracted a number of major occupiers including Eddie Stobart, Wincanton, Matalan and Morrisons.

Upon practical completion of the construction, targeted for Autumn 2019, the property will be let to BSH on a new 10-year lease, subject to five yearly upward only rent reviews indexed to the Retail Price Index, subject to a cap and collar. From completion of the land purchase and during the construction phase, the Company will receive an income return equivalent to the rent.


more.....

NOTICE OF GENERAL MEETING

RECOMMENDED PROPOSAL TO AMEND THE COMPANY'S EXISTING INVESTMENT POLICY

The Board of Tritax Big Box REIT plc (ticker: BBOX) announces the publication today of a notice convening a general meeting (the "Notice of General Meeting") to consider a recommended proposal to amend the Company's Existing Investment Policy, details of which are set out in a shareholder circular accompanying the Notice of General Meeting (the "Circular").

Change to the Company's Existing Investment Policy

The Company is proposing an amendment to its Existing Investment Policy and has consulted with a number of its larger Shareholders. The Company proposes to increase the maximum exposure limit to land and options over land from 10 per cent. of Net Asset Value to 15 per cent. of Gross Asset Value, of which up to 5 per cent. of Gross Asset Value may be invested in speculative developments, namely development activities where no tenant is in place.

Furthermore, whilst the Company's primary investment focus is Big Box assets, it is also seeking to clarify that it may from time to time develop and/or acquire other ancillary assets, including, but not limited, to smaller distribution warehouses and/or urban distribution or "last mile" hubs.

The ability to make limited investments in speculative development activity will give the Company additional flexibility to source development opportunities at an earlier stage with the potential to deliver enhanced returns for Shareholders.

By increasing its maximum exposure limit to land and options over land, including making limited investments in speculative development activity, the Board and the Manager believe that the Company will be capable of deriving higher earnings from such investments as new developments are undertaken. In implementing the Company's broader investment strategy, the Board will remain fully focused on delivering an attractive dividend yield for Shareholders.

It is expected that all assets developed (whether speculatively or on a forward funded, pre-let basis) that meet the Company's investment criteria will be held by the Company for investment purposes in accordance with its Investment Policy.

The Circular sets out full details of the background to and rationale for the proposed changes to the Company's Existing Investment Policy.

Notice of General Meeting

The proposal to amend the Existing Investment Policy requires the approval of Shareholders by ordinary resolution. The General Meeting will be held on Friday, 23 November 2018 at 10:00 a.m. at the offices of Taylor Wessing LLP, 5 New Street Square, London EC4A 3TW.

A copy of the Notice of General Meeting will be posted to Shareholders today and will be available on the Company's website at www.tritaxbigbox.co.uk/investors. A copy will also be submitted to the National Storage Mechanism and will be available for inspection at www.morningstar.co.uk/uk/NSM.

Any capitalised terms used but not defined in this announcement will have the same meaning as set out in the Circular.

UPDATE ON PRIME LONDON DEVELOPMENT LAND AT LITTLEBROOK, DARTFORD

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to provide the following update on progress with the Company's c.114 acres of prime London development land at Littlebrook, Dartford, within the M25, which was acquired in July 2017.

The Company announces that it has successfully secured planning permission from Dartford Borough Council for the proposed development of a 450,240 sq ft cross-docked logistics facility with a clear internal height of 21 metres. The proposed development of the asset is on 28.6 acres of Phase 1 land and this planning permission consolidates planning consents from other parts of the site.

The marketing campaign, which formally commenced recently, has already attracted a healthy level of enquiries and the Phase 1 planning consent is expected to heighten interest further. The Company is targeting a yield on cost on Phase 1 in excess of 6.5%.

The Littlebrook site represents one of London's largest big box logistics parks and is in a core South East "Last Mile" location on the edge of London and inside the M25 orbital motorway. It has excellent road and port connectivity and can support the potential development of approximately 1.7 million sq ft of logistics distribution buildings, including several big box logistics facilities, together with some smaller urban logistics facilities. By developing buildings on a pre-let basis only on this site, the Company aims to add new high-quality investments to its portfolio over the coming years at an attractive yield on cost, whilst minimising risk.

Demolition of both Phases 1 and 2, which total approximately 54 acres, has now completed on time and on budget. An important part of the demolition process is ensuring that as much of the demolished material as possible is recycled. To date, a recycling level of over 98% has been achieved across the site.

The demolition of Phase 3, which includes the main power station and its associated infrastructure, is continuing and is on track to complete in early 2020.

Discussions are now ongoing with Dartford Borough Council for a separate application for outline planning consent on the balance of the site.

Colin Godfrey, Partner of Tritax, commented:

"Working alongside our development partner, Bericote Properties, we are delighted to have been granted planning permission for the first development phase of this exciting Big Box logistics park within the M25 at Dartford, London.

The development team look forward to continuing to build on the positive working relationship established with Dartford Borough Council to progress discussions to secure planning consent for the development of the balance of this site. We anticipate being able to provide additional new high-quality investments on a pre-let basis to the Company's portfolio over the coming years at an attractive yield on cost.

Our continuing phased capital investment programme will in time bring new jobs to the site as well as the wider area."

Liberum Capital Hold 140.40 155.00 Reiterates

Completion of New 15 Year Lease

COMPLETION OF A NEW 15 YEAR LEASE TO A WORLD LEADING RETAILER ON CHESTERFIELD ASSET

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce the successful completion of a new 15-year lease to the incumbent licensee, a financially robust world leading retailer, on the Company's distribution centre at Barlborough Links, Chesterfield.

Previously let to Tesco Stores Limited ("Tesco"), on a lease which was due to expire in March 2020, this well located and well configured logistics facility was acquired by the Company in March 2014 at an attractive yield.

In March 2018, the Company successfully negotiated a surrender of the Tesco lease, without premium, to obtain vacant possession. Almost simultaneously, this world leading occupier entered into a 12-month licence agreement, to help enable it to undertake due diligence on the asset, with a view to negotiating and finalising a formal lease.

This well specified cross-docked facility with 64 dock level loading doors, has a gross internal area of 501,751 sq ft, an eaves height of 15 metres, ancillary office space and a site density of 46%. It benefits from immediate access to the M1 at Junction 30, providing excellent motorway and wider transport network connectivity.

The Company is undertaking a programme of works in conjunction with the customer's extensive fit out plans.

more.....

Hoarding for Brexit sparks race for warehouse space in Britain

EXTENSION OF DEBT FACILITY

On 1 December 2017, the Board of Tritax Big Box REIT plc (ticker: BBOX) (the "Board") announced that it had agreed a £350 million unsecured revolving credit facility (the "Facility") with a syndicate of lenders, with the ability to request two extensions of one year each beyond the original termination date of 10 December 2022.

The Board is pleased to announce that the Company has reached an agreement to extend the termination date of the Facility from 10 December 2022 to 10 December 2023. The margin payable under the Facility of 1.10 per cent per annum over 3 month LIBOR remains unchanged and the Facility retains its uncommitted £200 million accordion option. There remains one further extension option available under the Facility.

The agreement in respect of the Facility further extends the Company's weighted average debt maturity (excluding the existing £250 million short-term debt facility) to 8.7 years.

TRADING UPDATE

The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to provide the following trading update ahead of the publication of the Company's results for the year ended 31 December 2018, which are expected to be published on or around 6 March 2019.

HIGH QUALITY PORTFOLIO

· 54 Big Box assets and 114 acres of prime London distribution development land owned (the "Portfolio") independently valued at £3.42 billion as at 31 December 2018 (30 June 2018: £2.90 billion) including all forward funded development commitments

o Like-for-like valuation uplift of 4.7% during the 12 month period to 31 December 2018 (2.6% during the six month period to 31 December 2018)

o Weighted average purchase yield since inception of 5.5%1, against a valuation yield of 4.4% as at 31 December 2018

o 86% of Portfolio assets acquired off-market since inception

o Weighted average unexpired lease term across the Portfolio as at 31 December 2018 of 14.4 years1,2

· Portfolio 100% let or pre-let to 39 institutional quality tenants with contracted annual rental income of £161.1 million as at 31 December 20181

o All leases provide for upward only rent reviews, of which 45% are RPI/CPI-linked, 37% are open market, 11% are fixed and 7% are hybrid3

o As at 31 December 2018, the Company's largest tenant exposure was to Amazon, representing 13.6% of the Company's total contracted rental income (30 June 2018: 4.1%)

INVESTMENT ACTIVITY

· Eight new Big Box investments acquired in 2018 (including seven pre-let forward funded developments), with an aggregate purchase price commitment of £641.5 million4

o Weighted average purchase yield of the eight investments of 5.1%

o Valuation uplift of 7.5% across the eight investments as at 31 December 2018 compared to the aggregate purchase price commitment5

o Weighted average unexpired lease term across the eight investments as at 31 December 2018 of 18.9 years2

· Planning permission secured for Phase 1 of the Company's prime London distribution development site at Littlebrook, Dartford, comprising the proposed development of a 450,000 sq. ft. logistics facility

o The Company is targeting a yield on cost on Phase 1 of in excess of 6.5%

o The 114 acre Littlebrook site represents one of London's largest big box logistics parks and is in a core South East "Last Mile" location on the edge of London and inside the M25 orbital motorway

· Seven pre-let forward funded developments, totalling 6.6 million sq. ft., under construction as at 31 December 2018

ASSET MANAGEMENT ACTIVITY

· Completion of a new 15 year lease at the Company's distribution centre at Barlborough Links, Chesterfield, following the successful negotiation of a lease surrender with the previous tenant, reflecting an increase in annual rent of 25.4% from the previous passing level

· Completion of a 10 year lease extension with Kellogg's at the Company's distribution centre at Trafford Park, Manchester, reflecting an increase in annual rent of 20.0% from the previous passing level

· 2.0% average annual like-for-like growth in passing rent following the settlement of 10 rent reviews in 2018, representing 19.2% of the Company's total contracted annual rental income at 31 December 2018

FINANCING ACTIVITY

· US private placement of £400 million senior unsecured fixed rate loan notes agreed in December 2018, with a weighted average coupon of 2.91% and a weighted average maturity of 9.8 years. The funds will be drawn on 28 February 2019

· Maturity date of £350 million unsecured revolving credit facility (with an uncommitted £200 million accordion option) extended by one year to December 2023

· £1.46 billion6 of committed debt financing in place, of which £834 million was drawn as at 31 December 2018 (27% LTV) and £386 million is allocated against existing forward funded commitments

· Weighted average term to maturity of debt facilities of 8.7 years as at 31 December 20186 (8.9 years as at 31 December 2017)

· Weighted average running cost of debt of 2.63%7, primarily comprising fixed rate debt (2.38% as at 31 December 2017)

· Successful significantly oversubscribed £155.6 million equity issue in April 2018

PROGRESSIVE DIVIDEND POLICY

· The Company is targeting an aggregate dividend of 6.7 pence per share for the year ended 31 December 2018, payable quarterly, of which 5.025 pence per share has been paid for the nine months ended 30 September 20188

· The Company intends to maintain its progressive dividend policy during 2019 and thereafter

Colin Godfrey, Partner of Tritax, said:

"We have maintained a patient and disciplined approach to capital deployment throughout the year, investing £641.5 million in eight off-market and attractively priced assets, including seven forward funded pre-let developments which are due for completion over the course of the next 18 months, each delivering effective income during the construction phase. These new assets will help maintain the modernity of our portfolio and have enhanced our WAULT which now stands at 14.4 years. The addition of these assets has further diversified our customer tenant base and increased our weighting to high calibre companies in the e-retail, manufacturing and electricals sectors. Three of these important new assets are pre-let to Amazon, now our largest tenant by rental income.

Planning consent for a 450,000 sq. ft. logistics facility was secured at our 114 acre development site at Dartford and we successfully repositioned two Value Add assets into Foundation assets through the negotiation and delivery of new long-term leases.

Despite the ongoing uncertainty around Brexit, logistics lettings in 2018 reached near record high levels and market rents continued to grow even though speculative supply has increased. This occupier demand has been underpinned by the continued growth in e-commerce and occupiers seeking improved supply chain efficiency through the application of larger, flexible and automated logistics property solutions. Investment demand has also remained high, as evidenced by further yield compression during 2018. The outlook for our Company remains positive and we expect UK logistics to remain a robust property investment sector during 2019."

Notes

1) Excludes development site at Littlebrook, Dartford

2) To the earlier of lease expiry or break option

3) Based on contracted annual rental income as at 31 December 2018

4) Based on target commitments of £141.5 million in relation to the Company's forward funded development at Integra 61, near Durham and £120.3 million in relation to the Company's forward funded development at Link 66, Darlington

5) Excludes property purchase costs

6) Excludes £250 million short-term facility entered into in October 2018

7) Based on gross debt, excluding commitment fees

8) The target dividend is a target only and not a forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's actual or expected future results

Results of the Issue

RBC Capital Markets Outperform 136.00 190.00 Initiates/Starts