- Tritax Big Box REIT reported an increase in the value of its portfolio and said occupier take-up looked 'promising' for 2020.

The unaudited total portfolio value stood at £3.94bn as at 31 December 2019, up from £3.85bn on-year, with like-for-like valuation uplift across the portfolio of 1.8%.

As of the 31 December 2019, 58 investment assets were let or pre-let to 40 institutional quality tenants with contracted annual rental income of £166.6m.

The company said it had continued to target an aggregate dividend of 6.85p per share for the year ended 31 December.

'Occupier take-up looks promising for 2020 with over 10 million sq ft of lettings reported to be under offer and carried over from 2019,' the company said. 'Speculative supply has slightly decreased from 2018, but importantly reduced by c.50% for buildings over 500,000 sq ft, where demand continues to outstrip supply. '

'Attractive levels of rental growth are therefore expected to continue, which when combined with 53% of our contracted rental income receiving fixed or minimum increases will support the group's progressive dividend policy,' it added.

At 9:27am: [LON:BBOX] Tritax Big Box Reit Plc share price was +0.2p at 139.9p

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