Tritax EuroBox PLC Tritax EuroBox secures new lease in Italy (8306U)
28 Noviembre 2023 - 1:00AM
UK Regulatory
TIDMEBOX TIDMBOXE
RNS Number : 8306U
Tritax EuroBox PLC
28 November 2023
Tritax EuroBox secures a new lease of speculatively developed
asset in Italy
Tritax EuroBox plc (the "Company"), which invests in Continental
European logistics real estate assets, has agreed a second lease at
its two-unit asset in Settimo Torinese, a prime logistics location
near Turin. The new six-year lease has been secured with the same
leading Italian logistics provider which signed a lease for the
other unit in August 2023.
Summary
-- The letting is for the second unit (14,197 sqm) at the
Company's 28,287 sqm two-unit development, well-located adjacent to
the A4 'Turin-Trieste' motorway in Settimo Torinese, 14km east of
Turin and 125km west of Milan .
-- The six-year green lease includes a further six-year
extension option and includes annually reviewed inflation-linked
uplifts.
-- The agreement of this second unit, to the same leading
Italian logistics specialist which leased the other half of the
property, means the asset is now fully let and de-risks income
previously subject to rental guarantees.
-- The rent agreed is 8% above both the Estimated Rental Value
(ERV) as at March 2023 and the rent agreed for the first unit,
which was signed in August 2023 and commenced on 1(st) October.
-- The building includes a roof-mounted solar PV scheme and
other sustainability features that reduce its environmental impact.
These support the targeted BREEAM Very Good rating.
-- Brownfield regeneration of a former tyre manufacturing
warehouse, with the completed development improving the local
environment and providing new employment opportunities for local
communities.
Background
This speculative forward funding development was acquired by the
Company in June 2021 from LCP, with each unit subject to a rental
guarantee of 12 months' rent from Practical Completion in July
2023. Arranged as two units, with c.6% office content and a design
which offers further flexibility with roof-mounted solar PV scheme
options.
Company commentary
James Charlesworth, Asset Management Director of Tritax EuroBox
plc, commented:
"This letting provides further evidence of the successful
delivery of our strategy of purchasing high-quality and sustainable
buildings, developed in sought-after locations, close to major
population centres and with easy access to great transport links.
Securing this lease ahead of the rental guarantees expiry to an
existing strong customer, further demonstrates the attractiveness
of our assets, the continuing good occupier demand in Italy and our
ability to add long-term rental income to the portfolio."
Further information
Tritax EuroBox plc
+44 (0) 20 8051 5070
Phil Redding - CEO
Mehdi Bourassi - CFO
Charles Chalkly - Investor Relations
Kekst CNC (Media enquiries)
Tom Climie / Guy Bates
+44 (0) 7760160248 / +44 (0) 7581 056 415
tritax@kekstcnc.com
Notes:
Tritax EuroBox plc invests in and manages a well-diversified
portfolio of Continental European logistics real estate. These
assets fulfil crucial roles in logistics and distribution supply
chains, and are located in established logistics markets near major
population centres across core Continental European countries.
Our high-quality portfolio is highly sustainable, offers
predictable and predominantly inflation-linked income and has
opportunities for capital growth through active asset management.
These attributes underpin our ability to generate attractive
returns for Shareholders over the long term.
The Manager, Tritax Management LLP, has assembled a
full-service, pan-European capability for the Company, combining
in-house leadership and strategic expertise with close partnerships
with leading European developers and asset managers.
The Manager comprises a skilled, diverse team of real estate
professionals with expertise across investment, asset management,
development, finance, business analysis, research and
communications. This is supplemented with specialist, on-the-ground
developers, and asset and property managers with strong market
standings in the Continental European logistics sector.
Further information on the Company is available at:
tritaxeurobox.co.uk
The Company's LEI is: 213800HK59N7H979QU33.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDEAFFXALFDFAA
(END) Dow Jones Newswires
November 28, 2023 02:00 ET (07:00 GMT)
Tritax Eurobox (LSE:EBOX)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Tritax Eurobox (LSE:EBOX)
Gráfica de Acción Histórica
De May 2023 a May 2024