TRITAX BIG BOX REIT PLC (BBOX)

TRITAX BIG BOX REIT PLC (BBOX)

Blog posts

Brexit Investment Strategies

Investors may have noticed that the pound is in free fall and heading towards US$1.20. That’s near the low after the initial Brexit vote. Pundits, not that they can be relied on for forex forecasts, suggest it could go lower now that we seem to be heading for a “no-deal” Brexit. With the pound falling, and potential damage to the UK economy from a hard Brexit, investors should surely have been avoiding companies reliant on UK sales, or UK consumers, or those ...

AssetCo, Patisserie, Stockpiling, Warehouses, Sheds, Brexit and Venezuela

A week ago, an award of damages of £21 million plus interest and costs was made against Grant Thornton for their breach of duty when acting as auditors of AssetCo Plc (ASTO) in 2009/10. See https://www.bailii.org/ew/cases/EWHC/Comm/2019/150.html for the full judgement. I understand Grant Thornton may appeal. These are the key sentences in the judgement: It is common ground that in those years the senior management team at AssetCo behaved in a way that was fundamentally dishonest. During the audit process management made ...

Hedging Against Brexit

As we edge towards an abrupt Brexit as agreement with the EU has turned into a game of chicken, it’s worth considering some options. Or as my M.P. Bob Neill said about divorce on Twitter “the current system of divorce creates unnecessary antagonism in an already difficult situation” (he was talking about personal divorce in the UK as head of the Justice Committee but our EU divorce is looking very similar – acrimony is the word for it). Perhaps the Prime Minister ...

AGM Reports

Tritax Big Box REIT (BBOX) AGM 2017

Today I attended the 3rd Annual General Meeting of Tritax Big Box REIT Plc in central London. Eight other shareholders were present, plus the fund manager and usual hangers on. Tritax Big Box is the only Real Estate Investment Trust dedicated to investing in very large logistics facilities in the UK. Financial highlights from 2016 are a 3.5% increase in NAV to 129p, a total return in the year of 9.6%, an average unexpired lease term of 15.3 years, a decrease in ...

Tritax Big Box REIT Plc (BBOX) AGM 2016

Today I attended the 2nd Annual General Meeting of Tritax Big Box REIT Plc in an office in central London. Seven other shareholders were present, which seemed a surprise for the Chairman as they had no presentation planned and had only thought they would need to quickly go through the formal business. I gathered that last year only one shareholder was present so the board could be forgiven for expecting a low turnout. Tritax Big Box is the only Real Estate Investment ...