IN BRIEF: Tritax Big Box REIT secures lease deals with retailer Currys
Tritax Big Box REIT PLC - real estate investment trust investing in logistics properties in the UK - Electronics retailer Currys PLC signs two new agreements for logistics space at Tritax Park Newark in the East Midlands of England. A new 20-year lease is for 400,000 square feet in a recently completed speculatively developed building at the distribution centre. A 10-year lease extension is for 800,000 square feet in an existing building, extending that lease to 20 years as well. Tritax says the two lease agreements together secure £9.5 million in annual rental income. Together with its partner Simons Developments, Tritax is bringing forward plans for up to 970,000 square feet of design and build opportunities at Tritax Park Newark, as well as a 40-acre country park.
‘Newark is the centre of our UK supply chain operations, supporting over £5 billion of annual sales, and houses one of Europe’s largest technology repair centres,’ explained Currys Chief Operating Officer Lindsay Haselhurst. ‘Extending our operations at Tritax Park Newark will enable continued growth of our omnichannel model and support further market share gains.’
Current Tritax stock price: 154.80 pence
12-month change: up 11%
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