Tritax Big Box REIT has completed the sale of six logistics assets to EQT Real Estate for £199M as the FTSE 100 landlord continues to recycle capital from stabilised assets and into higher-return logistics developments and data centre projects.

The portfolio comprises big-box and urban logistics assets in Leamington Spa, Peterborough, Didcot and Kettering.

They generate £12M of contracted annual rent, and the assets were sold in line with their book values, “underscoring continued investor appetite for UK logistics real estate despite a more selective investment market,” Tritax said in a regulatory statement.

The transaction marks a significant acquisition for EQT Real Estate, which has been steadily expanding its European logistics exposure. For Tritax, the disposal is the latest step in an aggressive capital recycling programme that has seen the company sell almost £1B of assets over the past three years while reshaping its portfolio toward development-led opportunities.

Last year, Tritax completed the £1B acquisition of a major logistics portfolio from Blackstone, adding both urban and big-box assets across the UK and cementing its position as the country's largest listed logistics landlord, expanding the company's exposure to urban logistics.

The company reported strong operational momentum entering 2026, with rental growth continuing across its portfolio and leasing activity supporting its target of growing adjusted earnings by 50% by the end of the decade.

Alongside its logistics developments, management has highlighted data centres as a growth opportunity, supported by surging demand from artificial intelligence, cloud computing and digital infrastructure operators.

"Consistent with our ambition to self-fund our very attractive near-term opportunities, we have been one of the most proactive recyclers of capital in our sector, delivering sales of nearly £1B over the past three years," Tritax Big Box Chief Financial Officer Frankie Whitehead said in a statement.

For EQT Real Estate, the acquisition provides immediate scale through a portfolio of income-producing logistics assets while many investors are seeking to deploy capital into sectors supported by e-commerce growth, supply chain resilience and nearshoring trends, the company said.