Tritax Big Box sells six logistics assets for €232m

Tritax Big Box REIT has completed the sale of six logistics assets to EQT Real Estate for a cash consideration of £199 mln (€232 mln).

Logistics shed

The properties, totalling approximately 148,645 m2, are located in strategic UK distribution hubs, including Leamington Spa, Peterborough, Didcot, and Kettering.

They were sold at their book values and generated a total annual contracted rent of £12 mln (€13.9 million).

These assets are fully leased, following the recent completion of a lease at Leamington I, and boast a diverse tenant base spanning e-commerce, logistics, publishing, healthcare, and consumer industries. Most assets hold EPC A ratings.

Their strategic locations near major transport routes such as the M40, A14, and A1(M) offer excellent connectivity to key UK population centres and established distribution networks, linking cities like London, Birmingham, and Edinburgh.

This sale aligns with Tritax Big Box's strategy to reallocate capital into higher-yielding opportunities, such as development-led logistics assets and data centre projects.

The investment aligns with EQT Real Estate's strategy of targeting high-quality logistics assets in supply-constrained markets that benefit from robust occupier demand and potential for long-term rental growth.

Frankie Whitehead, CFO for Tritax Big Box, said: “Consistent with our ambition to self-fund our very attractive near-term opportunities, we have been one of the most proactive recyclers of capital in our sector, delivering sales of nearly £1 bn (€1.16 bn) over the past three years. We are delighted to complete this £199 mln (€232 mln) sale to EQT Real Estate, the proceeds of which will support investment in higher-returning development-led opportunities and further strengthen our balance sheet.”

Jonathan Mackie, managing director at EQT Real Estate, said: “We continue to see attractive long-term opportunities in European logistics, supported by structural trends including the growth of online retail, supply chain optimisation, and increasing demand for efficient distribution space close to major population centres. This acquisition expands our growing UK logistics footprint and complements our broader European logistics portfolio across established distribution markets.”