Big Yellow Group PLC Planning Update (5301K)
29 Agosto 2023 - 1:00AM
UK Regulatory
TIDMBYG
RNS Number : 5301K
Big Yellow Group PLC
29 August 2023
29 August 2023
Big Yellow Group PLC
("Big Yellow", "the Group" or "the Company")
Planning Update
Big Yellow announces that it has obtained planning consent for a
132,000 sq ft self storage centre and 114 flats at appeal on its
site in Wapping, London.
We expect that this new store will deliver an approximately 9%
net operating income return on the total capital deployed of GBP56
million, including the estimated GBP36 million to be spent on
construction.
Demolition of the existing buildings on the self storage site
will commence shortly, and when construction of the new store is
completed the existing temporary store (31,000 sq ft) will be
closed and the customers transferred.
Jim Gibson CEO, commented:
"This is an important planning consent that has been secured in
a strategic and rare central London location that we are confident
will deliver a meaningful contribution to our revenue and earnings
in due course."
Enquiries:
Nicholas Vetch CBE, Executive Chairman 01276 477811
Jim Gibson, Chief Executive Officer 01276 477811
John Trotman, Chief Financial Officer 01276 477811
Teneo 020 7260 2700
Charlie Armitstead
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