4th Sep 2007 07:00
Big Yellow Group PLC04 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 pleasedto 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 storeconsent received Net lettable area opening date Merton 75,000 sq ft March 2008Sheffield Hillsborough 60,000 sq ft Summer 2008Poole 53,300 sq ft Summer 2008Liverpool 45,300 sq ft Spring 2009Bromley 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 811Nicholas Vetch, ChairmanJames Gibson, Chief Executive Officer Weber Shandwick Financial 020 7067 0700Louise Robson/John Moriarty/Charlie Hooper Notes to EditorsBig Yellow Group PLC is one of the leading and most dynamic self-storage groupsin the UK. It was founded in 1998 by Nicholas Vetch, Philip Burks and JamesGibson and listed on AIM in May 2000, moving to the Official List of the LondonStock Exchange in 2002. Big Yellow has expanded rapidly and now operates from 43 stores in London andthe South, and one in Leeds, with a further 28 stores in development and of the71, 59 are held freehold and four long leasehold. All the stores have thedistinct yellow branding, in accessible main road locations, with the majoritybeing within the M25 or in strong urban conurbations. When fully built out theportfolio will provide approximately 4.4 million sq ft of flexible storagespace. The Group has pioneered the development of the latest generation of self-storagefacilities, which utilise state of the art technology and are located in highprofile, main road locations. Its focus on the location and visibility of itsbuildings, coupled with excellent customer service, has created the mostrecognised brand name in the UK self-storage industry. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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