24/09/2026
We're delighted to have helped our wonderful client Tritax Big Box REIT plc with its £350m equity issue to unlock an enlarged pipeline of data centre development opportunities.
The fundraise follows a massive power-infrastructure upgrade for the warehouse landlord. Tritax Big Box secured an additional 235 megawatts (MW) of grid connection agreements, nearly doubling its secured power pipeline to 507MW.
The funding will primarily advance two major new data centre projects located in the power-constrained Greater London Availability Zone, targeted for delivery between 2030 and 2031.
- These two projects are projected to generate £50-60m in incremental annual rent at a 9-11% yield on cost, and £300-400m in aggregate capital profits.
- Across its total 507MW pipeline (including existing schemes at Manor Farm, Heathrow and Chelmsford), the company is targeting overall rental income of £107-119m and total capital profits of £585-750m.
- Backed by this pivot into digital infrastructure alongside its logistics core, management raised its mid-term ambition to grow adjusted earnings per share (EPS) by 65% by 2030/2031.
The equity issue was approved at a general meeting on 24 August 2026, with the newly issued shares admitted to trading on the London Stock Exchange on 26 August 2026.
Our thanks to the company and advisors Norton Rose Fulbright & Stifel.
If you'd like to find out how we can help ensure the success of your fundraisings, chat with us today: hello@blackandcallow.com
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