Tritax Big Box delays data centre completion as awaits green light
Tritax Big Box REIT PLC on Tuesday pushed back its timing for practical completion of a UK data centre site, as it now only expects a decision on planning permission around the summer.
The real estate investment trust, which is focused on logistics properties, said a planning application decision from the UK Ministry of Housing Communities & Local Government on the Manor Farm development is expected on or before June 9. The site is in the Slough Availability Zone, near Heathrow Airport.
Tritax Big Box said it previously expected planning consent in December of last year. Then in December, the UK government department indicated a decision would be issued on or around mid-March.
Tritax Big Box had initially forecast practical completion between July and December 2027, based on the original December 2025 expectation of planning consent.
‘Noting the new guidance from MHCLG of a decision on or before 9 June 2026, the company now expects PC between October 2027 and March 2028 with income recognition starting in conjunction with the PC of the building,’ Tritax Big Box said.
‘The board is confident in the long?term strategic and financial merits of the Manor Farm development for the company’s shareholders, and in its contribution to the delivery of critical national infrastructure supporting UK economic growth. The probability of securing planning consent remains unchanged and the board will continue to keep shareholders informed as the planning process progresses.’
It still expects to book development profit from Manor Farm in 2026, ‘supported by a successful planning application and securing of a pre-let’.
Tritax Big Box said it is confident in achieving its ambition of growing adjusted earnings by 50% by 2030, from 2024’s £182.4 million. Adjusted earnings in 2025, excluding development management agreements, improved 16% to £211.4 million.
Shares were down 0.7% to 150.50 pence each in London on Tuesday morning.
The firm in January of last year said it acquired the land, which it intends to turn into a data centre.
Chair Aubrey Adams said at the time: ‘This is a decisive and exciting first step for the company in the very attractive data centre market which the manager has unlocked with its power and real estate capabilities. This gives the company a considerable competitive advantage in capturing the growing demand for data centre infrastructure. The combination of Manor Farm’s prime London location and accelerated access to critical grid connection agreements creates the opportunity to develop quickly one of the UK’s largest data centres and deliver exceptional returns for our shareholders.
‘Over the past four years, the manager has independently developed and invested in its power capabilities, securing a joint venture arrangement with one of Europe’s largest major renewable and low-carbon energy generators which the company is now acquiring at Manor Farm. This provides accelerated access to power in this prime data centre location, where a lack of power has significantly restricted the development of these nationally critical infrastructure projects.
‘Having taken extensive and independent professional advice, the board of Tritax Big Box has successfully negotiated preferential access and terms for this opportunity, which generates exceptional returns and complements our logistics development pipeline. The board has also negotiated a right of first refusal with the manager for all future data centre opportunities with up to around 1 gigawatt of power capacity.’
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