25th Sep 2019 09:28
(Alliance News) - Tritax Big Box REIT PLC on Wednesday said it is holding asset tours, during which it will provide an update on its construction and planning applications.
The company will provide an overview and update of work-in-progress, including the completion of around 2.4 million square feet of construction since February.
The real estate investment trust focused on large logistics properties also is progressing around 4 million square feet's worth of planning applications, which have been submitted to local planning authorities. This is on top of the 2.3 million square feet of planning consent obtained in Kettering in April.
Near-term, Tritax Big Box plans to submit another 1.7 million square feet's worth of new planning applications
In terms of the company's roughly 500,000-square-foot speculative development portfolio, about 44% is is let or in the hands of solicitors, Tritax Big Box said. Occupational interest levels are "good" and active discussions with prospective pre-let buyers are in progress for around 2.5 million square feet of space.
Shares in Tritax Big Box were down 0.7% at 147.98 pence in London on Wednesday.
By Anna Farley; [email protected]
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