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Big Yellow Group PLC (BYG)

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Monday 23 May, 2022

Big Yellow Group PLC

Sale of industrial warehouse scheme at Harrow

RNS Number : 3411M
Big Yellow Group PLC
23 May 2022
 

 

23 May 2022

 

Big Yellow Group PLC

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

 

Sale of industrial warehouse scheme at Harrow

Big Yellow announces that it has conditionally sold its industrial warehouse scheme at Harrow, London for gross sales proceeds of £61 million.

Completion of the sale is conditional, inter alia, on practical completion of the development, and is expected to occur in August of this year.

The Company has deployed approximately £27 million of capital expenditure to date with a cost to complete of approximately £4.5 million, totalling approximately £31.5 million including the cost of the land.

Reflective of the anticipated tenant demand no rental or void guarantees have been given.

Big Yellow is left with an acre of land on which it is building a new 82,000 sq ft store which is scheduled to open later this summer.

 

 

 

Enquiries:

 

Nicholas Vetch, Executive Chairman   01276 477811

Jim Gibson, Chief Executive Officer    01276 477811

John Trotman, Chief Financial Officer     01276 477811

 

Teneo      0203 603 5221

Ben Foster 

 

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