Tritax Big Box suffers from 'material falls in asset values'

15.2% drop in value of assets

Kathleen Gallagher
clock • 1 min read

Tritax Big Box REIT, which invests in logistics real estate, struggled in the second half of 2022 as it suffered from “material falls in asset values,” it said in a trading update published today (25 January).

The £5.1bn REIT saw a reduction in like-for-like value of investment assets of 15.2% for 2022, with the second half seeing a 20% reduction. However, the company also said that it collected 100% of its rent in the fiscal year and there was a £28.4m increase in annual contracted rent from development lettings and active management. It added 2.9 million square feet of development in 2022, of which 2.4m has been let. Tritax said the impact on the company's EPRA NTA, the value of its assets, was partly mitigated by development profits and growth in estimated rental value. The total v...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot