Tritax Big Box REIT plc (LON:BBOX) has provided an update on the planning application relating to its proposed data centre development at Manor Farm.
Update on planning application
The Company notes confirmation from the Ministry of Housing Communities and Local Government that a decision by the Secretary of State is now expected to be issued on or before 9 June 2026.
Revised timetable
In January 2025, the Company outlined anticipated practical completion of the data centre between July and December 2027, based upon an expectation of a December 2025 planning consent.
In December 2025, MHCLG provided an updated timetable indicating a decision would be issued on or before the 17 March 2026.
Noting the new guidance from MHCLG of a decision on or before 9 June 2026, the Company now expects PC between October 2027 and March 2028 with income recognition starting in conjunction with the PC of the building.
Maintaining expectations and confidence
Noting the revision to timings, the Tritax Big Box REIT Board continues to maintain its confidence in achieving its ambition of growing adjusted earnings by 50% by FY 2030[1].
We continue to expect to recognise development profits at Manor Farm in FY 2026, supported by a successful planning application and securing of a pre-let.
The Board is confident in the long‑term strategic and financial merits of the Manor Farm development for the Company’s shareholders, and in its contribution to the delivery of critical national infrastructure supporting UK economic growth. The probability of securing planning consent remains unchanged and the Board will continue to keep shareholders informed as the planning process progresses.
[1] 50% growth potential by the end of FY 2030, with the baseline reference being the FY 2024 Adjusted Earnings figure of £182.4 million. This should not be considered a profit forecast but an ambition. It assumes no material deterioration in macroeconomic conditions, including inflation, interest rates and GDP growth; sustained structural demand in key markets; investment markets remain open and ability to dispose of assets at or near book values. Excludes additional DMA income or portfolio value movements.
