Freehold Acquisition

Summary by AI BETAClose X

Big Yellow Group PLC announced the acquisition of a 0.5 acre freehold property in Bethnal Green, London, for £10.8 million. The purchase completion is scheduled in 18 months, allowing time to secure planning consent for a 68,000 sq ft self storage centre. The company anticipates the development will yield approximately 8% NOI on the capital deployed at stabilisation.

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