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Tritax Big Box REIT seals £199 million logistics assets sale to EQT

ALN

Tritax Big Box REIT PLC on Wednesday said it has completed the sale of six logistics assets to EQT Real Estate for £199 million in cash, in line with their book values.

The assets, located in Leamington Spa, Peterborough, Didcot and Kettering, generate total contracted annual rent of £12 million.

The real estate investment trust investing in logistics properties in the UK said the disposals form part of its strategy to recycle capital into higher-returning opportunities, including development-led logistics projects and data centres.

Chief Financial Officer Frankie Whitehead said: ‘Consistent with our ambition to self-fund our very attractive near-term opportunities, we have been one of the most proactive recyclers of capital in our sector, delivering sales of nearly £1 billion over the past three years. We are delighted to complete this £199 million sale to EQT Real Estate, the proceeds of which will support investment in higher returning development-led opportunities and further strengthen our balance sheet.’

Shares in Tritax Big Box REIT fell 1.2% to 148.23 pence each in London on Wednesday morning.

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