Tritax Big Box (BBOX) reported a reduced underlying total return of 5.8 per cent for 2019, due to a much lower revaluation uplift for its portfolio of logistics assets. That was despite increasing the annual dividend payment 2.2 per cent.
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The group achieved planning consents across 2.6m sq/ft of strategic land sites and 3.2 million sq/ft of logistics assets under construction, of which 92 per cent was pre-let. Management said the economic turmoil resulting from the outbreak of Covid-19 could temporarily weigh on tenants' willingness to commit to pre-lets.
