Big Yellow Group PLC Planning update (5976K)

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RNS Number : 5976K

Big Yellow Group PLC

17 December 2018

17 December 2018

Big Yellow Group PLC

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

Planning update

Big Yellow announces that it has secured a resolution (subject to execution of a section 106 agreement) to grant planning consent on its Lombard Road, Battersea, London site on which it currently operates a 34,000 sq ft store.

The scheme will provide a new 72,000 sq ft net Big Yellow store, 168 flats and 18,500 sq ft of offices, retail and artists' studios.

The process of relocating customers from the existing store to nearby Big Yellow stores will commence in the New Year, following which the existing store will be demolished. We are aiming to commence construction next summer, with a view to re-opening the larger store in summer 2020.

We will consider our options on the remainder of the site, which may include disposal, with the benefit of the planning consent for the residential, offices and shops.

James Gibson, CEO comments: "This was a large and complex proposal in planning terms and success gives us considerable confidence in tackling other projects closer to the centre of London as and when opportunities arise."

Enquiries:

   Nicholas Vetch, Executive Chairman                                                 01276 477811 

James Gibson, Chief Executive Officer

John Trotman, Chief Financial Officer

Teneo Blue Rubicon 020 7260 2700

Ben Foster

Matthew Denham

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December 17, 2018 02:00 ET (07:00 GMT)