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TRITAX BIG BOX Reit (BBOX)     

skinny - 09 Dec 2013 09:30 - 2 of 163

Admission to Trading

Further to the announcement on 4 December 2013, Tritax Big Box REIT plc (the "Company") is pleased to announce that 200 million Ordinary Shares have today been admitted to trading on the Specialist Fund Market of the London Stock Exchange and the Official List of the Channel Islands Stock Exchange ("Admission"). The Company's ticker symbol is BBOX.

skinny - 09 Dec 2013 12:55 - 3 of 163

Bought in @100.95p

david lucas - 09 Dec 2013 12:59 - 4 of 163

Hi Skinny
Yes I have also bought 2000 at 100.90p

deltazero - 09 Dec 2013 13:37 - 5 of 163

afternoon chaps - i'm in - expect this to head north in a short period of time - in demand niche market with few competitors...................

Logistics has always played an essential role in retailing, but this segment of the market is more important than ever. The most successful high street retailers get rid of their stock every few weeks, while the best online rivals are those that can promise one-day delivery.


Large, mechanised warehouses enable retailers to keep such promises, particularly when they are located near transport hubs.


Tritax Group has been involved in this sector for years. A fund management firm focused on property, it has provided warehouses for blue-chip retailers including Next and Amazon. But Tritax Big Box will be the group’s first foray into the stock market.


Colin Godfrey, who runs the business, has been in property since the 1980s, including several years managing £1billion in property assets for the British Gas pension scheme. Godfrey intends to raise £200million in the flotation and build the assets up to £1billion in four to five years.


The warehouses that the firm will acquire can be a million square feet or more – the equivalent of about 12 football pitches – and they are in real demand from retailers. But supply is limited as there are only certain areas where such huge buildings can be developed.

The Tritax Big Box team pride themselves on being exceptionally well connected in the property world, so they can acquire sites before rivals even hear about them and secure them for a good price.


Tritax Big Box expects to have three warehouses under its belt before Christmas with a fourth shortly after and two more within six months. Each site costs between £30million and £80million, so the company does not intend to indulge in speculative development. Instead, it will acquire warehouses once tenants have been secured.


The forthcoming purchases, for example, are expected to involve well-known retailers. Rental agreements will typically be for at least 15 years and linked to inflation, as will dividends.


Godfrey is also aiming for capital growth, so investors can expect a considerable rise in the share price. Online retail is forecast to account for £140billion of sales in Britain by 2016, up from £68billion in 2011. But it needs these big boxes to flourish and high street retailers need them too.

In these warehouses, goods are packed floor to ceiling and much of the work is mechanized, so costs are kept to a minimum.


Midas verdict: Tritax Big Box is the first listed property company specialising in UK-based gigantic warehouses. These sites are in demand and the Tritax team – including chairman Richard Jewson, who is also chairman of successful Midas warehouse tip Raven Russia – have a record of finding the right sites and developing them for their customers. The stock should prove rewarding. Buy.


skinny - 11 Dec 2013 13:03 - 6 of 163

Aviva and cohorts > 12%

skinny - 11 Dec 2013 14:37 - 7 of 163

EAST RIDING OF YORKSHIRE COUNCIL > 7%

skinny - 11 Dec 2013 15:10 - 8 of 163

Acquisition Of The Sainsbury's Distribution Centre

ACQUISITION OF THE SAINSBURY'S DISTRIBUTION CENTRE, LEEDS FOR £48.75 MILLION

The Board of Tritax Big Box REIT plc is pleased to announce that it has acquired a Sainsbury's distribution centre in Sherburn-in-Elmet, Leeds from a fund advised by Ekistics Property Advisors LLP for a purchase price of £48.75 million (net of acquisition costs), reflecting a net initial yield of 6.65% on the corporate acquisition (equivalent to 6.39% net initial yield assuming standard purchaser's costs). The purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

This regional distribution centre is one of Sainsbury's main regional distribution hubs distributing groceries to supermarket and 'local' store formats. It is strategically located with excellent transportation connections via road (A1(M) motorway), rail and air for central UK distribution for both e-commerce and national stores.

It was constructed in 2000 and comprises over 585,000 sq. ft. of ground floor area with 13 metre eaves height, extending over four buildings with associated loading and parking. The distribution centre is being acquired with an unexpired lease term of approximately 13 years, which is subject to five yearly upward only open market rent reviews.

deltazero - 11 Dec 2013 15:52 - 9 of 163



rns

buy and lease back agreement sainsburys - excellent revenue stream..........

http://www.investegate.co.uk/tritax-big-box-reit--bbox-/rns/acquisition-of-the-sainsbury-s-distribution-centre/201312111505013086V/

deltazero - 13 Dec 2013 12:00 - 10 of 163

more fantastic news - rns out onwards and upwards.......................

we are now the landlords of marks & sparks - http://www.investegate.co.uk/tritax-big-box-reit--bbox-/rns/acquisition-of-m-s-distribution-centre/201312131145054990V/

skinny - 13 Dec 2013 12:03 - 11 of 163

ACQUISITION OF M&S DISTRIBUTION CENTRE

AGREEMENT TO ACQUIRE THE MARKS & SPENCER EAST MIDLANDS DISTRIBUTION CENTRE FOR £82.575 MILLION

The Board of Tritax Big Box REIT plc is pleased to announce that it has exchanged contracts for the acquisition of the Marks & Spencer East Midlands Distribution Centre at Castle Donington, Leicestershire for a purchase price of £82.575 million (net of acquisition costs) reflecting a net initial yield of 5.2%. Completion is expected to take place on 17 December 2013. The purchase will initially be funded out of equity proceeds, with senior debt finance expected to be introduced in the near term.

The regional distribution centre was purpose-built for Marks & Spencer in 2011 and comprises over 900,000 sq. ft. of ground floor area with 25 metre eaves height, with associated offices, car park and vehicle maintenance unit and with the benefit of an adjacent rail freight terminal and sidings. It is strategically located with excellent transportation connections via road (M1 motorway), rail and air for central UK distribution of general merchandise for both e-commerce and national stores.

The distribution centre is being acquired with an unexpired lease term of approximately 23 years, which is subject to a five yearly open market rent review with a minimum increase equivalent to 1.5% per annum and a maximum increase equivalent to 2.5% per annum (in each case on a compounded basis).

skinny - 15 Dec 2013 10:43 - 12 of 163

Interactive Investor article

skinny - 23 Jan 2014 13:28 - 13 of 163

On market transfer between direct & indirect funds

skinny - 02 Apr 2014 10:14 - 15 of 163

Slowly ticking up over the past couple of weeks.

skinny - 01 May 2014 07:16 - 16 of 163

Jefferies International Buy 0.00 109.13 114.00 114.00 Reiterates

skinny - 19 May 2014 07:12 - 17 of 163

Interim Management Statement

HIGHLIGHTS
· IPO in December 2013 fully subscribed raising £200m
· Admitted to the Specialist Fund Market of the London Stock Exchange and listed on the Channel Islands Stock Exchange on 9 December 2013
· Over £187m of net IPO proceeds invested in portfolio of four distribution centres let to institutional-grade tenants
· Secured £23.5m senior debt financing in April 2014 to Sainsbury's distribution centre in Sherburn-in-Elmet, Leeds
· Initial portfolio is performing in line with management expectations
· Healthy pipeline of further suitable new investment opportunities being pursued

skinny - 30 May 2014 07:53 - 18 of 163

Jefferies International Buy 107.63 107.63 114.00 114.00 Reiterates

skinny - 30 May 2014 07:58 - 19 of 163

Proposed Placing

The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) (the "Company"), announces that the Company is seeking to place with institutional investors up to 19.98 million new ordinary shares of £0.01 each in the Company (the "Placing Shares"), representing approximately 9.99 per cent of the Company's existing issued share capital (the "Placing").

As set out in the Interim Management Statement on 19 May 2014, the Company has successfully invested £187.17m of the net proceeds of its initial fundraise, acquiring four distribution centres. In April 2014, the Company also signed an agreement with Barclays Bank PLC to provide £23.5 million of senior debt financing to Sainsbury's distribution centre in Sherburn-in-Elmet, Leeds.

The Board believes that there is a healthy pipeline of suitable new investment opportunities and the Company is currently in advanced negotiations in relation to the acquisition of two additional assets. It is intended that the capital raised via the Placing will be used in the near term to assist in financing these investment opportunities.

The Placing is expected to close at 12 noon (London time) today but may close earlier or later at the absolute discretion of the Company. The issue price will be determined by a book build process and is expected to be at a level which is accretive to the net asset value per share of the Company, after costs.

Application will be made to the London Stock Exchange and the Channel Islands Securities Exchange Authority Limited (formerly the Channel Islands Stock Exchange) ("CISEA") for the Placing Shares to be admitted to trading on the Specialist Fund Market of the London Stock Exchange and the CISEA ("Admission"). It is expected that Admission will become effective on 4 June 2014.

The Placing Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares of £0.01 each in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid (including the Company's initial interim dividend due to be declared in August 2014).

In connection with the Placing, Jefferies is acting as sole bookrunner and Akur is acting as financial adviser to the Company.

skinny - 30 May 2014 10:19 - 20 of 163

Result of Placing

Further to the announcement earlier today, the Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) (the "Company"), is pleased to announce that it has received commitments from institutional investors for 19.98 million new ordinary shares of £0.01 each in the Company (the "Placing Shares"), representing approximately 9.99 per cent of the Company's existing issued share capital (the "Placing").

Accordingly the Placing is now closed and the issue price has been set at 104 pence per share.

Application will be made to the London Stock Exchange and the Channel Islands Securities Exchange Authority Limited (formerly the Channel Islands Stock Exchange) ("CISEA") for the Placing Shares to be admitted to trading on the Specialist Fund Market of the London Stock Exchange and the CISEA ("Admission"). It is expected that Admission will become effective on 4 June 2014.

The Placing Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares of £0.01 each in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid (including the Company's initial interim dividend due to be declared in August 2014).

skinny - 04 Jun 2014 07:07 - 21 of 163

Financing of M&S and Tesco Distribution Centres

FINANCING OF MARKS & SPENCER EAST MIDLANDS DISTRIBUTION CENTRE &
TESCO DISTRIBUTION CENTRE, SOUTHMEAD INDUSTRIAL ESTATE, DIDCOT

Further to the acquisitions of the Marks & Spencer East Midlands Distribution Centre at Castle Donington, Leicestershire announced on 13 December 2013 and the Tesco Distribution Centre at Southmead Industrial Estate, Didcot announced on 4 April 2014, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has signed agreements with Barclays Bank PLC to provide £49.3 million and £12.2 million respectively of senior debt financing secured individually on the assets. These reflect loan to value ratios of approximately 59% and 45% respectively. The debt financing for Marks & Spencer East Midlands Distribution Centre is for a term of five years, with an option to extend prior to the end of year two and three up to a maximum of seven years, with a margin of 200 bps above three month LIBOR. The debt financing for Tesco Didcot Distribution Centre is for a term of four years, with an option to extend prior to the end of year one up to a maximum of five years, with a margin of 185 bps above three month LIBOR.

As previously noted, the Group intends to operate a flexible gearing strategy with respect to individual assets. Generally, the Group expects to utilise borrowings to a greater extent on individual assets with longer unexpired lease lengths, while assets with shorter lease terms are expected to be geared to a lesser extent.

Following drawdown of the loans, the Group's aggregate borrowings will be 45% of the Group's gross assets. As set out in the Company's investment policy, the Group's initial target level of aggregate borrowings is 45% of the Group's gross assets, once fully invested, with a medium term target of 40% of the Group's gross assets.
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