7th Sep 2020 10:14
(Alliance News) - Big Yellow Group PLC on Monday said it has secured resolutions to grant planning consents for a new 56,000 square feet net lettable area store in north Kingston and a 70,000 square feet store in Wembley, in west and north west London.
The Bagshot, England-based self-storage company also said its new 77,000 square feet store in Camberwell, south London, opened in July and is leasing up well, with occupancy after eight weeks of 11%.
The company said it has now secured planning consents on eight of the thirteen proposed stores in its development pipeline. These eight stores, once constructed, will provide 500,000 square feet of additional capacity.
"We now have an oven-baked supply of consented sites which will allow us to build a sustainable stream of new stores over the next three to four years," said Chief Executive James Gibson.
"We are progressing planning on our remaining development sites and continue to look to acquire more development land and replenish the pipeline as stores open," added Gibson.
FTSE 250-listed Big Yellow shares were trading 1.5% higher in London on Monday at 1,068.00 pence each.
By Evelina Grecenko; [email protected]
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