REG - Tritax Big Box REIT - Tritax Big Box new letting and lease extension

Tritax Big Box REITAnnouncement

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RNS Number : 5544B  Tritax Big Box REIT plc  23 April 2026

 

 

Tritax Big Box supports Currys growth ambitions with new development letting
and lease extension

 

·    New 20 year lease secured on recently completed 0.4 million sq ft
speculative development

·    10 year extension for existing 0.8 million sq ft building, giving a
total remaining lease of 20 years

 

23 April 2026, Tritax Big Box REIT plc ("Tritax Big Box" or "the Company") has
completed on contracts with Currys plc ("Currys"), the international
omnichannel retailer of technology products and services, on two leases at
Tritax Park Newark. Together, the leases secure £9.5 million of annual rental
income (before rent reviews) for Tritax Big Box for 20 years over a combined
total footprint of 1.2 million sq ft. The lettings also demonstrate the
Company's ability to provide existing clients with incremental high-quality
logistics space through its development capabilities.

 

New letting on a 0.4 million sq ft new speculative development

Tritax Big Box has secured a new 20 year lease with Currys on its 0.4 million
sq ft recently completed speculatively developed building. Delivered in
partnership with Simons Developments, the building was constructed to BREEAM
Excellent, EPC A standard and benefits from 557KWp of roof mounted solar.
 Our total solar capacity across the portfolio has increased to 29.0MWp. The
letting delivers a development yield on cost in line with the Company's
guidance of 6-8%.

 

10 year lease extension on existing 0.8 million sq ft building

Tritax Big Box has agreed a 10 year lease extension on its existing facility
let to Currys. This increases the remaining lease term to 20 years, aligning
it with the lease length for their new building.

 

Further development opportunities at Tritax Park Newark (Phase 2)

Tritax Big Box and Simons Developments are also bringing forward plans for up
to 970,000 sq ft of design and build opportunities at Tritax Park Newark, as
well as a 40-acre country park to provide green space for local employees and
the general public. Situated in a prime East Midlands location just 0.5 miles
from the A46/A1 intersection and with proximity to Immingham Port, alongside
regional airport and railport transportation, Tritax Park Newark offers
seamless connectivity both across the UK and Ireland.

 

Charlie Withers, Head of Development Tritax Management LLP, Development
Director Tritax  Big Box REIT plc, commented: "We are delighted to both let a
brand new development and extend the lease on our existing building with
Currys. We have been working collaboratively with Currys at Newark for over
nine years and look forward to continuing to support their future needs. The
lettings evidence Tritax Big Box's strategic advantage of being both a
long-term investor and developer able to support clients' growth ambitions
with additional high-quality logistics space in prime locations. Combined, the
leases are a strong endorsement of the gathering momentum of Tritax Big Box's
lettings pipeline as we continue to focus on working with our clients to meet
their long-term real estate objectives."

 

Lindsay Haselhurst, Chief Operating Officer at Currys, said: "Newark is the
centre of our UK supply chain operations, supporting over £5 billion of
annual sales, and houses one of Europe's largest technology repair centres.
Extending our operations at Tritax Park Newark will enable continued growth of
our omnichannel model and support further market share gains. We are pleased
to strengthen our relationship with Tritax Big Box with these agreements and
as one of the largest employers in the area, we are proud to extend our
commitment to local economic growth and employment opportunities."

 

Philip Hodgkinson, Director, Simons Developments, said: "We're delighted to
have completed this high‑quality building and to see it fully let to Currys,
who are expanding their operations at this location. It's a clear
demonstration of what our partnership with Tritax Big Box can deliver and we
are excited about the potential of Phase 2. We're proud to be playing a role
in supporting long‑term investment and job creation across the region."

 

- Ends -

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 Kekst CNC

 Guy Bates/Tom Climie     Tel: +44 (0)7760 160 248 /

                                 +44 (0)7581 056 415

              tritax@kekstcnc.com

 

The Company's LEI is: 213800L6X88MIYPVR714

 

About Tritax Big Box REIT plc:

Tritax Big Box REIT plc (ticker: BBOX) is the largest listed investor in
high-quality logistics warehouse assets and controls the largest
logistics-focused land platform in the UK. Tritax Big Box targets attractive
and sustainable returns for shareholders by investing in and actively managing
existing built investments and land suitable for logistics development. The
Company focuses on well-located, modern logistics assets, typically let to
institutional-grade clients on long-term leases with upward-only rent reviews
and geographic and client diversification throughout the UK. Additionally,
having adopted a "power first" approach, the Company has recently secured its
first data centre development opportunities (amounting to over 250MW), and has
a pipeline of c.1-gigawatt of further opportunities, offering the potential to
deliver exceptional returns on an accelerated basis.

 

The Company is a real estate investment trust to which Part 12 of the UK
Corporation Tax Act 2010 applies, is listed on the Official List of the UK
Financial Conduct Authority and is a constituent of the FTSE 100, FTSE
EPRA/NAREIT and MSCI indices.

 

Further information on Tritax Big Box REIT is available at
www.tritaxbigbox.co.uk (http://www.tritaxbigbox.co.uk/)

 

About Currys plc

Currys plc is a leading omnichannel retailer of technology products and
services, operating online and through 702 stores in 6 countries. We Help
Everyone Enjoy Amazing Technology, however they choose to shop with us.

In the UK & Ireland we trade as Currys and in the UK we operate our own
mobile virtual network, iD Mobile. In the Nordics we trade under the Elkjøp
brand. We're the market leader in all markets, able to serve all households
and employing more than 25,000 capable and committed colleagues.

We help everyone enjoy amazing technology. We believe in the power of
technology to improve lives, helping people stay connected, productive, fit,
healthy, and entertained. We're here to help everyone enjoy those benefits and
with our scale and expertise, we are uniquely placed to do so.

Our full range of services and support makes it easy for our customers to
discover, choose, afford and enjoy the right technology to the full. The
Group's operations include one of Europe's largest technology repair
facilities, a sourcing office in Hong Kong and an extensive distribution
network, centred on Newark in the UK and Jönköping in Sweden, enabling fast
and efficient delivery to stores and homes.

We're a leader in giving technology a longer life through repair, recycling
and reuse. We're reducing our impact on the environment in our operations and
our wider value chain and we aim to achieve net zero emissions by 2040. We
offer customers products that help them save energy, reduce waste and save
water, and we partner with charitable organisations to bring the benefits of
amazing technology to those who might otherwise be excluded.

 

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