24th May 2018 14:28
LONDON (Alliance News) - Tritax, the investment manager of FTSE 250-listed Tritax Big Box REIT PLC, said it is exploring the launch and listing on the London Stock Exchange of a new UK investment trust.
The new trust, Tritax EuroBox PLC, will be focused on investing in the Continental European logistics market, and will seek to build a diversified portfolio of European logistics assets focused on major population centres and logistics terminals.
Jefferies International Ltd and Kempen & Co NV have been appointed as joint financial advisers and joint bookrunners for the proposed launch.
"The rise of online retailing in Europe is one of the most significant drivers of occupier demand for logistics space. Online retail sales across Europe are expected to rise 94% from 2016 to 2021, a dynamic which closely resembles how online retail penetration has transformed the UK logistics market in recent years," said Fund Manager Nick Preston.
"Rising demand for modern logistics assets coupled with significant supply shortages in key European markets provides a strong foundation for rental growth. Tritax EuroBox will seek to capitalise on Tritax's specialist knowledge, strong relationships and local insight to secure high quality logistics assets on a largely off-market basis," Preston added.
Shares in Tritax Big Box REIT were up 0.6% at 148.80 pence on Thursday.
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