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Tritax Big Box Acquisition of a Distribution Facility at Trax Park, Doncaster

17 May 2017

TRITAX BIG BOX REIT PLC

ACQUISITION OF A DISTRIBUTION FACILITY AT TRAX PARK,

DONCASTER FOR £20.9 MILLION

The Board of Tritax Big Box REIT plc (the “Company”) is pleased to announce that it has acquired a National Distribution Centre at Trax Park, Doncaster, which is currently and will continue to be operated by Unilever UK Ltd (“Unilever”) and is now let to Unilever, one of the world’s leading suppliers of Food, Home and Personal Care products. The total consideration is £20.9 million (excluding purchaser’s costs), reflecting a net initial yield of 5.61% on the asset acquisition. The purchase is being funded from equity proceeds.

Located in Trax Park, the property is strategically situated in a core UK distribution location with excellent motorway, rail and port connections. It is close to the M18, A1(M) and M1 and benefits from good access to the ports of Hull and Grimsby. The property is adjacent to Doncaster Rail Freight Terminal. The site is a well-established Regional and National Distribution Centre location with a number of major occupiers located close by including Amazon, Wincanton, XPO Logistics, B&Q, and Tesco in addition to the Company’s facilities let to Next and The Range.

Purpose-built in 2002 for Unilever, this is a high specification facility with a gross internal area of 262,885 sq ft and a site density of c.53%. It has an eaves height of between c.11 and 26 metres, extensive parking, is highly automated and has benefited from significant capital investment.

The property has been acquired with a new 15-year lease in place, subject to five yearly upward only rent reviews indexed to the Retail Price Index with a collar and cap in place.

Cushman & Wakefield represented Unilever.

Colin Godfrey, Partner of Tritax, commented:

“Unilever is a leading globally recognised consumer goods company and we are delighted to add them to the very strong list of tenants in our portfolio. This investment further diversifies our portfolio by tenant and business sector. This acquisition maintains our WAULT at over 15 years and is earnings accretive.”

-ENDS-

 

For further information, please contact:

Tritax Big Box

Colin Godfrey (Partner, Fund Manager)

via Newgate (below)

Newgate (PR Adviser)

James Benjamin

Zoe Pocock

Alex Shilov

Lydia Thompson

Tel: 020 7680 6550

Email: tritax@newgatecomms.com

  

NOTES:

Tritax Big Box REIT plc is the only listed vehicle to give pure exposure to the “Big Box” logistics asset class in the UK and is committed to delivering attractive and sustainable returns for shareholders. Investing in and managing both standing and pre-let forward funded development assets, the Company focuses on well-located, modern “Big Box” logistics assets, typically greater than 500,000 sq. ft., let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews and geographic and tenant diversification throughout the UK. The Company seeks to exploit the significant opportunity in this sub-sector of the UK logistics market owing to strong tenant demand and limited stock supply.

The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies (“REIT”), is listed on the premium listing segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.

Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk

 IMPORTANT NOTICE

This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, South Africa, New Zealand or Japan or to US persons. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not contain or constitute an offer for sale of, or the solicitation of an offer or an invitation to buy or subscribe for, New Shares to any person in the United States, Australia, Canada, South Africa, New Zealand or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.

The Company has not been and will not be registered under the US Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition, the New Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”) or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States or to or for the account or benefit of US persons absent registration or an exemption from the registration requirements of the Securities Act and in compliance with any applicable state securities laws and in circumstances that will not require registration of the Company under the Investment Company Act. There will be no public offer of the New Shares in the United States.

The offer and sale of New Shares has not been and will not be registered under the applicable securities laws of any state, province or territory of Australia, Canada, South Africa, New Zealand or Japan. Subject to certain exceptions, the New Shares may not be offered or sold in Australia, Canada, South Africa, New Zealand or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, South Africa, New Zealand or Japan.

Each of Jefferies and Akur is authorised and regulated by the Financial Conduct Authority and is acting exclusively for the Company and no-one else in connection with the Issue and Admission. They will not regard any other person as their respective clients in relation to the subject matter of this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, nor for providing advice in relation to the contents of this announcement or any transaction, arrangement or other matter referred to herein.

None of the Company, the Manager, Jefferies, Akur and any of their respective affiliates accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith. The Company, the Manager, Jefferies, Akur and their respective affiliates accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.

Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk

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