Big Yellow Acquires Another Site
26th March 2018
The AIM listed self storage space provider has acquired a 56,000 sq ft site in Hove, taking its development pipeline to 10 sites across the UK.
Surrey-headquartered Big Yellow has acquired a site in Hove which it has earmarked for a new 56,000 sq ft store, subject to planning. The deal brings the total number of sites the group is working on to 10 across the UK, following recent acquisitions in Slough and Bracknell.
This amounts to approximately 620,000 sq ft, with a total development cost of £173m, of which £84m has been spent to date, including site acquisition costs.
Elsewhere, Big Yellow’s 55,000 sq ft store in Central Guildford opened this week, the extension to its store in Wandsworth is due to open in May, and it has commenced construction on its new central Manchester store.
James Gibson, CEO said: "Securing sites and procuring planning permissions remains challenging and complex, and there will be setbacks.
"Notwithstanding this, we are confident of making progress and we have therefore decided to update the market more regularly with newsworthy events."