Tritax London Logistics Fund (TLLF) has hit a key financial milestone, with total fund value rising to approximately £1.07 billion at the end of the third quarter of 2026. The fund has grown by 65% since Tritax assumed management in 2023, keeping it on track to hit its £1.5 billion target by 2028.
The expansion comes as TLLF completes an equity raise of roughly £400 million ahead of schedule, meeting the upper end of its original target range set in Q3 2025. The fund has shifted its investor profile significantly, moving from a predominantly UK investor base to one where international backers account for 70%. Capital has been secured from institutional investors across Australia, Switzerland, Japan, Singapore, the United States and the Netherlands.
Over the last 12 months, TLLF completed three property acquisitions aimed at capturing value within Greater London’s constrained industrial sector. The current portfolio holds 22 assets covering more than 2.3 million square feet.
In the 12 months to 30 June 2026, the fund delivered a total return of 15.2%. Annualised total returns stood at 7.9% over three years and 3.1% over five years. According to the MSCI/RE:UK Quarterly Funds Index report, TLLF achieved top ranking within its peer group over the one- and three-year periods. This ranking covers only funds in that index and is not a comparison across all UK property funds.
Performance was driven by rental growth in key hubs such as Heathrow, alongside active management. Key milestones include securing planning consent on a 10-acre Green Belt site near Heathrow, completing a 115,000 square foot pre-let at Poyle, and signing a 122,000 square foot agreement for lease with WFS at Heathrow Airport.
Nick Ireland, Fund Manager for Tritax London Logistics Fund, commented:
“Reaching £1 billion is a milestone moment for TLLF, achieved alongside returns above the sector benchmark over the three-year period ended 30 June 2026. The successful equity raise reflects support for the Fund’s disciplined strategy, high-quality portfolio and proactive approach to asset management. We are pleased to build on this progress as we seek to scale the Fund through a further equity raise targeted at international institutional investors attracted by the London industrial and logistics market.”
To meet continued international demand for Greater London logistics real estate, TLLF plans to raise an additional £150 million over the next 12 months.
