Tritax Big Box reviewing investment opportunities after Brexit vote

Tritax Big Box said it was continuing to review its pipeline of investment opportunities after UK voted to leave the European Union.

The real estate investment trust said it was evaluating the potential for longer term fixed rate debt to diversify further its funding sources in light of continued low interest rate expectations.

In a half-year trading statement Tritax said it was targeting a full year dividend of 6.20p a share. It added that it invested £1.48bn in 28 big box assets, let to 22 tenants, and had 27 standing assets and one pre-let forward funded development with a combined floor-space of 14.7m.

Tritax said it bought 75% of during the period with an average purchase yield of 5.8%. Nine new investments were made in the last 12 months for a total of £473m.