Tritax Big Box secures two new leases with Currys

(Sharecast News) - Real estate investment trust Tritax Big Box said on Thursday that it had secured two new leases with electrical retail giant Currys at Tritax Park Newark, generating £9.5m in annual rental income for 20 years.

Tritax Big Box locked in a new 20‑year lease with Currys on its recently completed 400,000 square foot speculative development, delivering a development yield on cost in line with the company's 6-8% guidance.

The FTSE 100-listed group also agreed to a ten‑year lease extension on an existing 800,000 sq ft facility occupied by Currys, increasing the remaining term to 20 years and aligning it with the new building.

Tritax Big Box added that both it and Simons Developments were progressing plans for up to 970,000 sq ft of design‑and‑build opportunities at Tritax Park Newark as part of the scheme's second phase, with the proposals including a 40‑acre country park for employees and the wider community.

As of 1040 BST, Tritax shares were down 0.13% at 154.90p.

Reporting by Iain Gilbert at Sharecast.com

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