Planning Consent Update
Big Yellow Group PLC
04 September 2007
4 September 2007
Big Yellow Group PLC
("Big Yellow" or "the Company")
Planning Consent Update
The Board of Big Yellow Group PLC, the FTSE 250 self storage company, is pleased
to provide the following update on planning.
Since announcing our quarterly results in July, we have secured planning
consents on five of our development sites. These are summarised below:
Location where planning Estimated store
consent received Net lettable area opening date
Merton 75,000 sq ft March 2008
Sheffield Hillsborough 60,000 sq ft Summer 2008
Poole 53,300 sq ft Summer 2008
Liverpool 45,300 sq ft Spring 2009
Bromley 60,000 sq ft Spring 2009
Total 293,600 sq ft
These consents, together with the existing planning consents on our sites in
Balham, Barking Central, Ealing, Fulham, Kennington and Sheen, result in 11 of
our pipeline of 28 stores now having planning permission.
Of the remaining, we have submitted four applications, which we expect to
proceed to planning committee in the next three months. The majority of the
remaining applications will be submitted by the end of the financial year. One
site remains the subject of an appeal which will be heard in October of this year.
When fully built out, our development pipeline will provide us with a further
1.7 million sq ft of storage space, taking the total to 4.4 million sq ft.
We are also pleased to announce that we have acquired the freehold of our store
in Chelmsford, and a site for a new store in Central Guildford.
James Gibson, Chief Executive Officer, said:
"We are delighted to have secured these planning consents, and are hopeful of
obtaining further consents during the remainder of the year."
For further information, please contact:
Big Yellow Group PLC 01276 477 811
Nicholas Vetch, Chairman
James Gibson, Chief Executive Officer
Weber Shandwick Financial 020 7067 0700
Louise Robson/John Moriarty/Charlie Hooper
Notes to Editors
Big Yellow Group PLC is one of the leading and most dynamic self-storage groups
in the UK. It was founded in 1998 by Nicholas Vetch, Philip Burks and James
Gibson and listed on AIM in May 2000, moving to the Official List of the London
Stock Exchange in 2002.
Big Yellow has expanded rapidly and now operates from 43 stores in London and
the South, and one in Leeds, with a further 28 stores in development and of the
71, 59 are held freehold and four long leasehold. All the stores have the
distinct yellow branding, in accessible main road locations, with the majority
being within the M25 or in strong urban conurbations. When fully built out the
portfolio will provide approximately 4.4 million sq ft of flexible storage
space.
The Group has pioneered the development of the latest generation of self-storage
facilities, which utilise state of the art technology and are located in high
profile, main road locations. Its focus on the location and visibility of its
buildings, coupled with excellent customer service, has created the most
recognised brand name in the UK self-storage industry.
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 7 hours ago ASOS
- 7 hours ago MJ Gleeson
- 7 hours ago Rolls-Royce Holdings
- 8 hours ago Crest Nicholson Holdings
- 8 hours ago Naked Wines