Tritax Big Box REIT plc (BBOX.L) Wednesday said it has sold 235.7 million pounds worth or 50% of UKCM non-strategic assets at a 2.9% premium to December 2023 book value.
The company had completed the combination of UKCM, an externally-managed UK REIT, in May last year.
Additionally, 95.6 million pounds or 20% of assets are under offer, of which 68.4 million pounds or 14% is in solicitors' hands.
After the completion of disposals, non-strategic assets will represent less than 4% of total GAV. This compares with 8% at the time of acquisition completion.
"The capital from these disposals, and other ad hoc logistics assets disposals, supports the delivery of our attractive logistics pipeline as well as the exceptional returns through data centre development. In combination with capturing our record rental reversion, these three drivers provide the opportunity to more than double our rental income," said Colin Godfrey, CEO for Tritax Big Box.
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