Tritax Big Box makes 'positive start' to 2022
Tritax Big Box Reit
149.60p
17:09 26/04/24
Real estate investment trust Tritax Big Box said on Wednesday that it had made a "positive start to the year" amid continued development and asset management progress.
FTSE 250
19,824.16
16:59 26/04/24
FTSE 350
4,470.09
16:59 26/04/24
FTSE All-Share
4,423.59
17:14 26/04/24
Real Estate Investment Trusts
2,241.92
16:59 26/04/24
Tritax stated "strong and diversified occupier demand", combined with "historically low levels of availability", had led to further rental growth across the UK, with the group experiencing near-record levels of demand and a 102% increase in take up to 10.4 million square feet.
Nationwide vacancy rates remained at 1.6%, with Tritax saying the shortage of vacant space was "encouraging" occupiers to lease speculative buildings under construction or commit faster to new build to suit projects.
First-quarter logistics investment volumes totalled £2.5bn, up 19% year-on-year, with yields for high-quality investments tightening to approximately 3.25%.
Tritax also said it was on track to deliver 3.0-4.0m square foot of starts in the full year, within its 6-8% yield on cost target range.
As of 0840 BST, Tritax shares had dipped 1.80% to 218.80p.