Planning consent secured for 107MW data centre
Summary by AI BETAClose X
Planning consent secured for 107MW Manor Farm data centre, unlocking significant shareholder value
Significant value creation achieved through planning approval, unlocking a clear pathway to development
Accelerated route to power delivery brings capacity to market faster with greater certainty
Expected to deliver exceptional risk-adjusted shareholder returns, supported by a targeted 9.3% yield on cost
27 July 2026
Tritax Big Box REIT plc ("BBOX" or the "Company") announces that the six-week judicial review relating to its Manor Farm data centre development has concluded successfully. The Company can now progress the development of a 107MW facility on its 74-acre site in the Slough Availability Zone, one of Europe's most strategically important and supply-constrained data centre markets. Planning consent represents a significant value creation event, enhancing the site's development potential and establishing a clear path to delivery.
BBOX has secured an accelerated pathway to power delivery, a critical differentiator in a market where access to power remains one of the principal constraints on new data centre development. This provides greater certainty over delivery timelines and enhances the opportunity to bring capacity to market ahead of competing schemes.
Following a competitive marketing process, demonstrating strong occupier demand for strategically located, powered data centre capacity in the Slough Availability Zone, a pre-let agreement for this scheme is now in solicitors' hands.
Once operational, the facility is expected to achieve a 9.3% yield on cost, demonstrating the value creation potential of the Company's innovative "power-first" approach to data centre delivery. While rental income is expected to commence following practical completion, planning consent is a key de-risking step and, together with securing the power delivery and pre-letting, is expected to drive the recognition of attractive capital profit through the early stages of the development phase.
Colin Godfrey, Chief Executive Officer of Tritax Big Box REIT plc, said:
"Achieving planning consent at Manor Farm represents a significant value creation milestone for shareholders and is the first major demonstration of our data centre value creation strategy. By progressing a 107MW scheme in one of Europe's most supply-constrained data centre markets, we have materially enhanced the value of the site while de-risking the route to development.
"We have also secured an accelerated route to power delivery, creating a highly differentiated opportunity to bring critical digital infrastructure to market faster and with greater certainty. This combination of planning success, speed to market and execution capability underpins our confidence in delivering exceptional risk-adjusted returns for shareholders and supports our medium-term earnings growth ambition."
For further information, please contact:
Tritax Group
Colin Godfrey, CEO +44 (0) 20 7993 9640
Frankie Whitehead, CFO bigboxir@tritax.co.uk
Ian Brown, Head of Corporate Strategy & Investor Relations
Kekst CNC
Tom Climie/Guy Bates +44 (0) 77 601 60 248 / +44 (0) 75 810 56 415
Email: tritax@kekstcnc.com
The Company's LEI is: 213800L6X88MIYPVR714
Notes:
Tritax Big Box REIT plc (ticker: BBOX) is the largest listed investor in high-quality logistics warehouse assets and controls the largest logistics-focused land platform in the UK. Tritax Big Box targets attractive and sustainable returns for shareholders by investing in and actively managing existing built investments and land suitable for logistics development. The Company focuses on well-located, modern logistics assets, typically let to institutional-grade clients on long-term leases with upward-only rent reviews and geographic and client diversification throughout the UK. Additionally, having adopted a "power first" approach, the Company has recently secured its first data centre development opportunities (amounting to over 230MW), and has a pipeline of c.1-gigawatt of further opportunities, offering the potential to deliver exceptional returns on an accelerated basis.
The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies, is listed on the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 100, FTSE EPRA/NAREIT and MSCI indices.
Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk
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