Business
Property Rates Update
Big Yellow Group PLC anticipates an increase in its annual property rates bill to £22.9 million for the year ending March 31, 2027, representing an 8.5% rise of £1.8 million compared to the current position, impacting 27 stores due to revised rateable values and a new high value multiplier. This projected increase is 0.9% of the Group's last reported full-year revenue, and the company has a history of successfully reducing rateable values, having secured approximately £5 million in rebates since its 2017 listing. Currently, 63 appeals are outstanding, and the company is reviewing its strategy for future appeals, with projected like-for-like property rates increases of 3.1% and 4.2% in the subsequent two years, before any potential rebates. Disclaimer*
About this update from Big Yellow Group Plc
[{"type":"text","content":"\n\n \n \n3 December 2025\n \n \nBig Yellow Group PLC\n(\"Big Yellow\", \"the Group\" or \"the Company\")\n \nProperty rates update following the November 2025 UK Budget\nThe recently announced UK Budget included the scheduled revaluation of commercial properties leading to updated rateable values for the 2026 List. The multipliers which calculate the rates payable were also revised, with a new high value multiplier applied to properties with a rateable value above £500,000 impacting 27 of our stores. The multipliers applied to properties with a rateable value below £500,000 were reduced. The Budget also introduced transitional relief for businesses with the largest increases, and a transition supplement for businesses with the smallest increases. This relief reduces over the three years until the next review in 2029.\nFollowing these changes, we anticipate that our annual rates bill for the year ended 31 March 2027 will be £22.9 million for stores open at 31 March 2025, an increase of £1.8 million (8.5%) from the current position. This represents 0.9% of the Group's last reported full year revenue and before any further credits as a result of further successful rateable value appeals.\nSince the 2017 Listing we have been successful in reducing the rateable values for 35 of our properties (30% of the listings) out of 51 appeals which have been concluded. This has resulted in rates rebates of approximately £5 million over the six-year life of the Listing through to 2023, representing a 6...