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Tritax Big Box REIT take-up slips in Q1, but sees room for improvement
StockMarketWire.com
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Tritax Big Box REIT said take-up in first quarter was below than average amid an 'acute shortage' of ready-to-occupy sites, but said demand remain high and expected take-up to improve as the year progresses.
'With a record 16 million square foot of logistics real estate space under offer in the market, nearly twice the level at the end of 2020, take-up for the rest of the year is expected to rise,' the company said.
Vacancy fell below 4% in the first quarter of the year, and 98% of Q1 2021 and 95% of Q2 2021 rents were received, with 99% expected to be received in respect of Q1 and Q2 by the end of June 2021.
'Our development platform is making good progress and, in line with our guidance, with more of our sites progressing through the planning process, we are well placed to begin capturing greater letting opportunities from the second half of this year,' the company said.
At 8:03am: (LON:BBOX) Tritax Big Box Reit PLC share price was 0p at 163.6p
Story provided by StockMarketWire.com
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