Tritax Big Box REIT Plc (LON:BBOX) will host an investor seminar at 2.30pm today, detailing the exceptional shareholder value creation and growth opportunity inherent in the business over the medium term.
BBOX has the potential to grow adjusted earnings by 50% by the end of 2030, supported by its three key growth drivers:
1. Record rental reversion within its investment portfolio of both big box and urban logistics assets, with the potential to add £79 million to contracted rent.
2. Significant logistics development pipeline with the potential to add over £320 million to contracted rent.
3. Exceptional returns from large-scale pre-let data centre opportunities with the initial two schemes providing the potential to add £58 million of contracted rent.
Underpinning this growth is our efficient cost structure, strong balance sheet and limited and gradual increases in financing costs.
Today’s seminar will expand on this opportunity, with a focus on:
– An update on ongoing asset management initiatives, including within the attractive and complementary urban logistics market;
– The significant growth opportunities within BBOX’s logistics development programme and in data centres; and
– Prevailing market conditions for both logistics and data centres, and their enduring structural drivers.
Superior risk-adjusted returns from the UK focused, high quality logistics portfolio
The team will provide an update on asset management progress:
– Provide an overview of the asset management opportunity inherent within the Company, including capturing record rental reversion which, combined with letting up vacancy has the potential to add £79 million to contracted rent; and
– Outline progress on the asset management of the urban logistics assets acquired in the UKCM acquisition.
Logistics development pipeline delivering 6-8% yield on costs with the potential to deliver over £320 million of rental income
The development team will outline the attractions of its land platform and development opportunities:
– Outline the benefits of its land options, providing a capital-efficient and cost-effective way to control land, managing development risk and enhance returns;
– Our extensive relationships and knowledge of the UK planning regime which is a key enabler to value creation; and
– The agile and flexible nature of the development pipeline to ensure capital is carefully deployed to accurately match occupational demand
Exceptional returns from pre-let and powered shell data centre opportunities and outlining an increase in yield on cost guidance to 9-11%
Tritax Management’s power team will outline the extensive opportunity it is securing in data centres, specifically:
– Explaining our innovative “power-first” approach and the benefits our JV partner, EDF Renewables brings to our offer;
– Outlining progress on Manor Farm Phase 1, targeting a 9.3% yield on cost and c.£34 million per annum in rent from H2 2027;
– Investing a further c.£100 million in additional grid connection agreements and land with power delivery scheduled for 2028;
– Unveiling its second data centre opportunity, with 125 MW scheduled for delivery in 2028 and targeting a yield on cost of 10-11% and additional rental income of £23-25 million; and
– Providing an overview of its pipeline of further grid connection agreements totalling over 1 gigawatt.
Commenting, Colin Godfrey, CEO for Tritax Big Box REIT said:
“Today’s investor seminar provides the platform to showcase the significant growth opportunities our strategic focus creates. With record rental reversion, an attractive logistics development pipeline and, thanks to our innovative power-first approach, the potential for major data centres, it is both the breadth and scale of our opportunity which is unique in UK real estate. These factors combine to give us the ability to grow Adjusted earnings by 50% by the end of 2030 and deliver superior risk-adjusted returns to shareholders.”
Investor Seminar – 2.30pm, 30 June 2025
In person (registration at the venue in the City of London from 2.00pm).
To attend in person, please email [email protected]
Webcast (for those attending the presentation virtually at 2.30pm)
Pre-registration and access to the webcast is via the following link: Tritax Big Box – Investor Seminar 2025. Investors attending via the webcast will have the ability to asks questions.
