23 May 2022
Big Yellow Group PLC
("Big Yellow", "the Group" or "the Company")
Sale of industrial warehouse scheme at Harrow
Big Yellow announces that it has conditionally sold its industrial warehouse scheme at Harrow, London for gross sales proceeds of £61 million.
Completion of the sale is conditional, inter alia, on practical completion of the development, and is expected to occur in August of this year.
The Company has deployed approximately £27 million of capital expenditure to date with a cost to complete of approximately £4.5 million, totalling approximately £31.5 million including the cost of the land.
Reflective of the anticipated tenant demand no rental or void guarantees have been given.
Big Yellow is left with an acre of land on which it is building a new 82,000 sq ft store which is scheduled to open later this summer.
Enquiries:
Nicholas Vetch, Executive Chairman 01276 477811
Jim Gibson, Chief Executive Officer 01276 477811
John Trotman, Chief Financial Officer 01276 477811
Teneo 0203 603 5221
Ben Foster