Tritax Eurobox (GBP) (EBOX)

Sector:

Real Estate

Index:

FTSE 250

54.10p
   
  • Change Today:
      0.100p
  • 52 Week High: 73.70
  • 52 Week Low: 50.80
  • Currency: UK Pounds
  • Shares Issued: 806.80m
  • Volume: 165,103
  • Market Cap: £436.48m
  • RiskGrade: 108

Tritax EuroBox secures 10-year green lease at Dusseldorf site

By Josh White

Date: Friday 12 May 2023

LONDON (ShareCast) - (Sharecast News) - Continental Europe-focussed logistics property investor Tritax EuroBox announced the securing of a 10-year green lease with a leading logistics firm for its recently-completed 36,000 square metre property in Dormagen on Friday.
The London-listed company described the property as a prime logistics hub in the Düsseldorf region of Germany.

It said the sustainable building, constructed by its preferred developer-partner Dietz, was completed at the end of March.

The lease was signed within five weeks of practical completion, and included 100% consumer price index (CPI) indexation with annual reviews.

Tritax said the new agreement was 17.8% above the rental guarantee level, increasing the annualised rental income by €0.5m.

The tenant, described by the firm as a "world leader" in advanced logistics solutions, sells a range of services including e-commerce expertise, reverse logistics, and manufacturing support.

It said the green lease included clauses that would commit the tenant to using the building sustainably, as well as sharing data on energy and water consumption, waste management, and recycling.

Tritax EuroBox acquired the speculative forward funding for the project in March last year.

The property, a brownfield regeneration of a former concrete block factory vacant since 2006, was targeting DGNB Gold Certification and offered the potential for a substantial photovoltaic (PV) project in collaboration with the new occupier.

"This letting further enhances the resilience of our portfolio and demonstrates the strength of our strategy of buying high-quality sustainable assets in prime logistics locations and securing long leases with high-calibre customers," said Tritax EuroBox investment director Alina Iorgulescu.

"The agreement showcases the successful delivery of an excellent property, which was let immediately above the underwritten level, reducing the risk within the portfolio, and enhancing returns."

At 0800 BST, shares in Tritax EuroBox were up 1.5% at 0.77p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

EBOX Market Data

Currency UK Pounds
Share Price 54.10p
Change Today 0.100p
% Change 0.19 %
52 Week High 73.70
52 Week Low 50.80
Volume 165,103
Shares Issued 806.80m
Market Cap £436.48m
RiskGrade 108

EBOX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.56% above the market average96.56% above the market average96.56% above the market average96.56% above the market average96.56% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
59.23% below the market average59.23% below the market average59.23% below the market average59.23% below the market average59.23% below the market average
82.61% below the sector average82.61% below the sector average82.61% below the sector average82.61% below the sector average82.61% below the sector average
Income
81.66% above the market average81.66% above the market average81.66% above the market average81.66% above the market average81.66% above the market average
79.31% above the sector average79.31% above the sector average79.31% above the sector average79.31% above the sector average79.31% above the sector average
Growth
39.02% below the market average39.02% below the market average39.02% below the market average39.02% below the market average39.02% below the market average
31.71% below the sector average31.71% below the sector average31.71% below the sector average31.71% below the sector average31.71% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 5
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

EBOX Dividends

  Latest Previous
  Q3 Q2
Ex-Div 17-Aug-23 25-May-23
Paid 08-Sep-23 23-Jun-23
Amount 1.25¢ 1.25¢

Trades for 22-Sep-2023

Time Volume / Share Price
10:05 4 @ 54.20p
10:05 50 @ 54.20p
10:05 1 @ 54.10p
10:03 8,000 @ 54.22p
09:40 10,000 @ 54.15p

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