Freehold acquisition

RNS Number : 7301S

Big Yellow Group PLC

13 July 2020

 

13 July 2020

Big Yellow Group PLC

("Big Yellow", "the Group" or "the Company")

Freehold acquisition

Big Yellow announces that it has exchanged contracts to acquire a site at 60-70 The Highway, Wapping, London adjacent to our existing store for £18.6 million.

We will be seeking planning permission for a mixed-use scheme across both sites to comprise approximately 125,000 sq ft of self storage and ancillary space together with approximately 150 residential units.

The intention will be to build a new-build self storage centre on the newly acquired land.  When this is complete consideration will be given to the future of the existing property.

James Gibson, Chief Executive Officer commented:

"This is a strategically located site on the fringes of Central London and continues our strategy of building large, high quality stores as close to London's city centre as possible."

Enquiries:

James Gibson, Chief Executive Officer	01276 477811
John Trotman, Chief Financial Officer	01276 477811
Teneo
Ben Foster	0203 603 5221
Matt Denham

 

END

 

 

ACQRMMPTMTBBBBM