Land Sale in Bornem, Belgium

17 March 2020

Tritax EuroBox plc

(the "Company")

LAND SALE IN BORNEM, BELGIUM

The Board of Tritax Eurobox plc (tickers: EBOX (Sterling), BOXE (Euro)), which invests in Continental European logistics real estate assets, announces it has sold a 16,400 sqm plot of development land at its asset in Bornem, Belgium. The total proceeds, after the deduction of transaction costs, amount to €2.32 million, which reflect a premium of 53% to the book value of €1.52 million.

Having acquired two modern warehouses, and three vacant plots of land totalling 4.5 hectares at the site in 2018, the Company has already carried out several asset management activities including two leasing initiatives. The configuration of this plot of land was not suitable for large format logistics development and was therefore a non-core asset for the Company.

The Company continues to pursue additional opportunities to optimise further value at this location and plans to recycle the proceeds of the sale into the development of a new logistics unit on site.

Nick Preston, Fund Manager of Tritax EuroBox, commented:

"This sale demonstrates our ability to identify and sell surplus assets that sit outside our core strategy in a profitable way.  Working closely with our asset management team we have created immediate value, and by investing the proceeds in the development of the neighbouring site we are able to generate further returns for our investors."

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