UPDATE (Nov 2026): Nick Prettejohn will succeed Aubrey Adams as the chair of BBOX at the end of 2026. Planning consent for its 107MW data centre near Heathrow, called Manor Farm, was received in July 2026, and the trust raised £350m at 164p per share to help fund its data centre pipeline, which was at 11.8% discount to its June 2026 NAV per share of 185.9p. BBOX produced an accounting return of +5.5% in the year to December 2025 and +1.3% in the six months to June 2026.
Tritax Big Box REIT (ticker: BBOX) was launched in 2013 and invests in large, modern logistics properties, and has grown to ...
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UPDATE: A revised version of this profile was published in May 2025.
Tritax Big Box REIT is by far the largest trust in the AIC's various property sectors, at nearly three times the size of the next largest fund, and it has one of the best performance records over the last five years. Like many of the newer property funds, it's a specialist, concentrating on large UK distribution centres leased to the likes of Amazon and major retailers. As well as looking to serve increasing demand from rising online sales, its tenants are increasingly turning to larger, state-of-the-art facilities to improv...
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UPDATE: In June 2025, Urban Logistics was acquired by LondonMetric in a £700m cash and share deal.
Urban Logistics REIT (ticker: SHED) specialises in single-let last-mile logistics properties in the UK that range in size from 20,000 to 200,000 sq ft. Since listing in 2016, its portfolio has increased from 11 assets to 130 with a combined value of around £1.2bn. The trust has delivered an impressive annualised NAV return since its IPO of 16.5%, thanks to a range of asset improvement measures and a multi-year fall in rental yields for UK logistic assets. However, the logistics sector was spooke...
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UPDATE: Warehouse REIT was taken over by Blackstone in October 2025 for 115p per share.
Warehouse REIT (ticker: WHR) is one of three trusts in the UK logistics sector that has dominated the property performance tables in recent years. It joined the market in 2017 and is planning to move from AIM to the Main Market of the London Stock Exchange in July. Warehouse REIT has accumulated a portfolio valued at just over £1bn with around a tenth of that in development projects and land. Its leases tend to be relatively short and not linked to inflation while its target return is at least 10% per annu...
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