Tritax Big Box REIT has raised gross proceeds of approximately £350m from an equity issue to unlock its pipeline of data centre development opportunities.
The placing, retail offer and subscription in aggregate comprised 213,414,634 new ordinary shares, representing approximately 7.9% of the existing issued ordinary share capital of the company prior to the equity issue.
The placing price represents a discount of approximately 4.5% to the closing price of 171.7p on 5 August 2026 and a discount of approximately 11.8%. to the NTA per share of 185.9p as at 30 June 2026.
Tritax Big Box REIT intends to use the net proceeds of the equity raise to advance its pipeline of data centre development opportunities including the early stage and longer-term capex requirements of two additional data centre schemes totalling 235MW in the Greater London Availability Zones, deliverable between 2030-2031.
The REIT has already secured planning for a 107MW data centre facility at its Manor Farm site in Slough and entered a development management agreement to deliver a second 125MW data centre in Chelmsford.
Tritax Big Box REIT is targeting £107m to £119m of rent and £585m to £750m of capital profits from data centre projects following the near doubling of its secured power pipeline to 507MW.
Colin Godfrey, chief executive officer of Tritax Big Box REIT, said: “We are delighted by the strong support received for the £350m equity issue, which provides the early stage and longer-term funding to unlock our enlarged data centre development pipeline and is expected to be materially accretive to both EPRA earnings and NTA per share in the medium term. We would like to thank existing shareholders and new investors for their support and look forward to delivering best in class, compounding shareholder returns underpinned by our three growth drivers.”
