Tritax Big Box REIT seals GBP199 million logistics assets sale to EQT

(Alliance News) - Tritax Big Box REIT PLC on Wednesday said it has completed the sale of six logistics assets to EQT Real Estate for GBP199 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 GBP12 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 GBP1 billion over the past three years. We are delighted to complete this GBP199 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.

By Jeremy Cutler, Alliance News reporter

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