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MetroBox seeks to leverage on the structural shift occurring within the retail and logistics real estate markets.

MetroBox is a JV between Tritax Group and Delancey that seeks to deliver compelling investment returns by investing in and actively repurposing high performing, undervalued urban retail warehousing.

Total portfolio value

£290m

Across Six retail parks

Total GIA

797k sq ft

High-performing retail & logistics space

Total passing rent

£22.7m

At purchase

WAULT

6.1 yrs

Weighted Average Unexpired Lease Term

Redefining last-mile logistics

Launched in 2019, MetroBox’s investment strategy is focused on strategically located retail warehouses that play an increasingly elevated role in post digital supply chains.

Such assets are now at the centre of ’ omnichannel trading strategies and essential to enabling faster and more efficient commerce offline and online. These urban warehouses offer occupiers cost effective, flexible space which is perfectly placed to accommodate the consumer’s increasingly demanding delivery expectations.

A solid foundation for long-term performance

MetroBox has constructed a seed portfolio of six leading retail warehouse parks predominantly situated in core south-east locations.

Each of these strategically located, high-performing parks, offer well-specified retail warehouse space that  is well placed to accommodate modern operational requirements. We identify and execute transitional asset management initiatives to  deliver a new hybrid of retail warehousing with enhanced logistics functionality, offering occupiers last mile omnichannel capabilitity under one roof. 

Uniquely positioned to deliver value

Through the funds we manage, we have unique oversight of the UK logistics sector. From Big Boxes to urban MetroBoxes our expertise spans the entire supply chain, this allows us to foster close, collaborative relationships with our ocupiers.

This deep sector insight, along with our thorough understanding of real estate fundamentals inform our investment and asset management strategies, ensuring that we are best placed to acquire and transition undervalued traditional retail warehousing assets to urban MetroBoxes.

 

Our portfolio
A new hybrid of retail warehousing

In line with the Fund’s investment strategy and leveraging form our strong occupier relationships and insight driven approach, we have constructed a portfolio of six prime UK retail warehouse parks.

Predominantly located in the south-east, these best-in-class retail warehouse assets are well positioned to capitalise on the structural shift in the retail and logistics property markets and provide a solid foundation for long-term investment performance.

Regional focus
72%

South East

Drive time
15 mins

to average catchment

Our portfolio
Ladymead Retail Park
Location: Guildford, Surrey

The only retail park in the affluent town of Guildford.Well located off the A3 with an attractive and diverse mix of tenants. Currently there is potential to re-let one unit for logistics and/or retail use.

Acquisition cost
£78.7m
GIA (sq ft)
133,915
Yield on cost
7.11%
Population density (within 15 mins)
c.263,773
Our portfolio
Luton Retail Park
Location: Luton. Bedfordshire

An extremely busy park strategically located adjacent to Luton Parkway Rail Station with significant grocery & logistics value-add opportunities.

Acquisition cost
£50.6m
GIA (sq ft)
168,091 sq ft
Yield on cost
7.27%
Population density (within 15 mins)
c.294,684
Our portfolio
Solihull Retail Park
Location: Solihull, West Midlands

A prominent retail park benefitting from a recent, extensive refurbishment.

GIA (sq ft)
198,273
Yield on cost
7.8%
Poulation density (within 15 mins)
358,545
Our portfolio
County Oak
Location: Crawley, West Sussex

The only large retail park and dominant in the affluent town of Crawley, close to Gatwick airport. A strong tenant base underpinned by lack of competition in and out of town.

Acquisition cost
£71.32 million
GIA (sq ft)
155,553
Yield on cost
7.01%
Population density (within 15 mins)
155,553
Our portfolio
Bath Road Development
Location: Chippenham, Wiltshire

A modern, purpose built retail park with excellent frontage to the A4 Bath Road. Tenants trade well in this location, with good tenant demand for the former Pizza Hut unit and potential interest from logistics operators.

Acquisition cost
£13.2m
GIA (sq ft)
79,950
Yield on cost
7.43%
Population density ( within 15 mins)
93,493
Our portfolio
Broadbridge Heath Retail Park
Location: Horsham, West Sussex

Strategically located retail park off the A24 adjacent to an area to the west with a significant increase in new housing stock thereby underpinning future trade.Strong medium term redevelopment potential with alternative use demand.

Acquisition cost
£18.1m
GIA (sq ft)
61,445
Yield on cost
7.25%
Population (within 15 mins)
141,367

MetroBox seeks to leverage on the structural shift occurring within the retail and logistics real estate markets 

MetroBox is a JV between Tritax Group and Delancey that seeks to deliver compelling investment returns by investing in and actively repurposing high performing, undervalued urban retail warehousing. 

The team 

MetroBox’s investment team has day-to-day responsibility for the investigation of opportunities and execution of acquisitions and disposals as well as the management of the portfolio.

1 of 5
James Watson
James Watson
James Dunlop
James Charlesworth
Ed Plumley
Alasdair Mason

James Watson Partner, Fund Manager, MetroBox

James joined Tritax in January 2020. As Fund Manager to MetroBox, he is responsible for the day-to-day management of the fund and implementation of its investment objectives.

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James Dunlop Partner, CEO Investment

As Partner and joint CEO, James is responsible for identifying, sourcing and structuring suitable investment assets for the company as well as handling the disposal of assets.

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Aberdeen Standard Investments (ASI) and Tritax Management LLP (Tritax) announce…

James Charlesworth Asset Manager, MetroBox

James joined Tritax in April 2020 as Asset Manager to the MetroBox Fund. He is responsible for all investor property reporting, the management of third-party professionals and identifying and progressing value enhancing initiatives.

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Ed Plumley Assistant Fund Manager - MetroBox

As Assistant Fund Manager for MetroBox, Ed is responsible for assisting with acquisitions and disposals, debt origination, financial modelling, portfolio analysis and due diligence work streams. Ed also oversees fund administration.

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Alasdair Mason Financial Controller

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