Tritax Big Box REIT has collected 99% of rent for 2020, it has announced in a quarterly business update.
The group said the remaining 1% was subject to deferral arrangements and due to be collected by mid-2021.
For the current quarter, the group has so far collected 93%, which it expects to increase to 100% by the quarter end when scheduled monthly payments are made.
Portfolio activity
In November, the group acquired a temperature-controlled distribution unit in Southampton for £44.2m and a net initial yield of 5.24%.
It also completed three rent reviews delivering an average increase of 8.4% and adding £0.65m to annual rent roll.
On its development platform, Tritax Symmetry, the group let the final speculative built space in the portfolio, in Bicester, to Ocado on a 20-year lease at a rent 20% above its development appraisal for the site.
In total, lettings in the Tritax Symmetry portfolio in 2020 added £4.6m to the contracted rent roll.
The group also secured 2.5m sq ft of planning consents (1.9m sq ft at Rugby and 0.6m sq ft at Biggleswade).
Key manager appointment
The company’s manager Tritax Management has appointed former SEGRO chief investment officer Phil Redding as a partner. He will have responsibility for investment strategy.
BBOX : Tritax Big Box collected 99% of rent in 2020