Business
FY25 Trading Update
Tritax Big Box REIT plc reported strong momentum entering 2026, having secured an additional £14.2 million per annum in contracted rent through active asset management, alongside £8.9 million per annum from its logistics development pipeline with lettings in solicitors' hands. The company is also negotiating terms for a data-centre pre-let at Manor Farm, Heathrow, targeting a 9.3% yield on cost. Contracted rent grew to £360.9 million, supported by a 4.0% like-for-like portfolio ERV growth and the acquisition of a £1.04 billion portfolio. The Loan to Value ratio increased to 33% following acquisitions, and the company received a credit rating upgrade to A3 from Moody's. Disclaimer*
About this update from Tritax Big Box Reit Plc
[{"type":"text","content":"\n\nEntering 2026 with strong momentum across our growth drivers\nAdditional £14.2 million p.a. of contracted rent secured through active management\n£8.9 million p.a. of additional rent under offer from logistics development pipeline\nNegotiating terms on data-centre pre-let at Manor Farm, Heathrow\n \n22 January 2026, Tritax Big Box REIT plc (\"Tritax Big Box\" or \"the Company\") provides an update on its operational performance for the financial year ended 31 December 2025. \n \nColin Godfrey, CEO for Tritax Big Box, commented:\n\"2025 has been a transformational year for Tritax Big Box as we continue to make excellent progress in support of our three growth drivers. We are driving rental income growth through our asset management activities and have a strengthening pipeline of development letting opportunities. Our data-centre pipeline has moved forward meaningfully, with pre-letting negotiations now underway on our first data centre development at Manor Farm, Heathrow, reflecting strong occupier demand for well-located, power-enabled sites. In support of our strategy, we have been very effective in rotating capital into higher returning opportunities, having now sold over £800 million of assets over the past three years.\n \n\"With strong occupational interest across both logistics and data centres, the successful integration of recent acquisitions, and clear structural tailwinds supporting our portfolio, we enter 2026 well positioned to deliver on our ambition to grow adjusted earnings by 50% by the end of 2030.\"\n \nActive management - secured a £14.2 million increase in contracted rent from asset management activity\nDrawing on Tritax Management's enhanced asset management platform we have added significant value, including:\n· 4.0% like-for-like portfolio ERV growth during FY25, reflecting favourable supply/demand dynamics in our markets for high-quality logistics real estate.\n· Grown contracted rent to £360.9 million (2024: £313.5 million) with £52.8 million added by the £1.04 billion portfolio acquired in October 2025 and £14.2 million from asset management initiatives, offset by £24.1 million from asset disposals.\n· £14.2 million (2024: £11.6 million) added to contracted rent through asset mana...