Tritax Big Box REIT has announced that its dedicated logistics developer db symmetry has rebranded as Tritax Symmetry.
The UK investment company, focused exclusively on big-box logistics real estate, acquired an 87% economic interest in the assets of db symmetry in February, combining its 30.9m sq ft logistics investment portfolio with one of the UK’s largest land portfolios for the development of large-scale logistics assets. The deal gave it the potential to deliver circa 38m sq ft of additional logistics assets over the next eight to 10 years.
Recent deals completed by Tritax Symmetry include a 163,664 sq ft speculative development in March in Bicester, Oxfordshire, and a 152,038 sq ft speculative development in Doncaster, South Yorkshire. In May, it achieved full planning permission for a 661,201 sq ft regional distribution centre prelet to the Co-operative Group on a 20-year lease term at Biggleswade, Bedfordshire, along with outline planning consent for up to 2.31m sq ft of high-quality logistics space at Symmetry Park, Kettering, Northamptonshire.
Richard Bowen, managing director at Tritax Symmetry, said: “The rebrand marks a new chapter in our company’s growth and one that we are hugely excited about. Since the sale of the Symmetry Portfolio, we have been working closely with Tritax Big Box to fully understand each other’s businesses; the rebrand was the next logical step.”
Colin Godfrey, fund manager at Tritax Big Box, added: “This rebrand underlines the successful integration of the Tritax Symmetry team, helping to ensure that we are now best placed to maximise the significant opportunities from our combined sector-leading expertise and complementary skill sets over the short and longer term.”
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