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TRITAX BIG BOX Reit (BBOX)
skinny
- 09 Dec 2013 07:49
skinny
- 13 May 2015 07:08
- 56 of 172
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).
more....
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%.
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).
more....
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%.
skinny
- 01 Jun 2015 07:06
- 57 of 172
skinny
- 08 Jun 2015 07:17
- 58 of 172
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.
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.
skinny
- 08 Jun 2015 07:17
- 59 of 172
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).
more....
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).
more....
skinny
- 08 Jun 2015 07:19
- 60 of 172
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.
more....
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.
more....
skinny
- 14 Jul 2015 13:03
- 61 of 172
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.
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.
skinny
- 21 Jul 2015 07:03
- 62 of 172
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.
skinny
- 21 Jul 2015 12:25
- 63 of 172
A new high @119p.
skinny
- 05 Aug 2015 09:14
- 64 of 172
Toying with the highs again.
skinny
- 18 Aug 2015 13:33
- 65 of 172
And again @119.50p
skinny
- 21 Aug 2015 07:02
- 66 of 172
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.
more....
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.
more....
skinny
- 29 Aug 2015 11:44
- 67 of 172
skinny
- 07 Sep 2015 07:22
- 68 of 172
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).
more....
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).
more....
skinny
- 11 Sep 2015 10:55
- 69 of 172
A new high @124.50p.
skinny
- 14 Sep 2015 15:18
- 70 of 172
And again @125p.
skinny
- 18 Sep 2015 13:52
- 71 of 172
skinny
- 21 Sep 2015 08:04
- 72 of 172
Jefferies International Buy 0.00 125.00 123.00 136.00 Reiterates
skinny
- 22 Sep 2015 07:42
- 73 of 172
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).
more....
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).
more....
skinny
- 23 Nov 2015 12:19
- 74 of 172
From the 18th - Jefferies International Buy 130.45 136.00 140.00 Reiterates
A new high @130.80p.
A new high @130.80p.
skinny
- 09 Dec 2015 08:07
- 75 of 172
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.
more....
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.
more....
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