Business
Disposal
Disposal.
About this update from Big Yellow Group Plc
[{"type":"text","content":"\n \nRNS Number : 8289Z Big Yellow Group PLC 22 May 2019 \n\n \n22 May 2019\n \nBig Yellow Group PLC\n(\"Big Yellow\", \"the Group\" or \"the Company\")\n \nDisposal\n \nBig Yellow today announces that it has sold the part of the Wyvern Industrial Estate in New Malden, London that it does not occupy for £11.8 million.\n \nBig Yellow acquired the entire estate for £29 million (including costs) in January 2019, giving security of tenure over our 81,000 sq ft New Malden store, and extinguishing the rental liability. The current net operating income of the Big Yellow store is £1.7 million, representing a 10% yield on the net investment of £17.2 million.\n \nThe proceeds will be used to repay part of the Group's revolving bank facility and will be recycled in due course into growth capital expenditure.\n \n \nEnquiries:\n \n\n\n\nJames Gibson Chief Executive Officer\n\n\n01276 477811\n\n\n\n\nJohn Trotman Chief Financial Officer\n\n\n01276 477811\n\n\n\n\n\n\n\n\n\n\n\n\nTeneo\n\n\n020 7260 2700\n\n\n\n\nBen Foster\n\n\n\n\n\n\n\nMatt Denham\n\n\n\n\n\n\n \n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END DISPGUBAAUPBUMP\n ","length":3891,"tagName":"div"}]