Big Yellow Group PLC Planning Update (1962Y)

TIDMBYG

RNS Number : 1962Y

Big Yellow Group PLC

07 September 2020

7 September 2020

Big Yellow Group PLC

("Big Yellow", "the Group" or "the Company")

Planning Update

Big Yellow announces that it has secured resolutions to grant planning consents for a new 56,000 sq ft net lettable area store in North Kingston and 70,000 sq ft store in Wembley, both of which are in London.

Our new 77,000 sq ft Camberwell store opened in July and is leasing up well with occupancy after 8 weeks of 11.4%. The company has now secured planning consents on eight of the thirteen proposed stores in its development pipeline. These eight stores once constructed will provide approximately 500,000 sq ft of additional capacity.

James Gibson, Chief Executive Officer, commented

"We now have an oven-baked supply of consented sites which will allow us to build a sustainable stream of new stores over the next three to four years. We are progressing planning on our remaining development sites and continue to look to acquire more development land and replenish the pipeline as stores open."

Enquiries:

 
 James Gibson, Chief Executive Officer    01276 477811 
 John Trotman, Chief Financial Officer    01276 477811 
 
 Teneo 
 Ben Foster                               0203 6035221 
 Matt Denham 
 

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September 07, 2020 02:00 ET (06:00 GMT)