Freehold Acquisition

RNS Number : 3377Y

Big Yellow Group PLC

06 September 2022

 

6 September 2022

Big Yellow Group PLC

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

Freehold Acquisition

Big Yellow announces that it has acquired the freehold interest in the property, which it currently leases in Oxford, for £13.5 million. The 1.8 acre site includes two separately let buildings, which will provide vacant possession in 2030 and the opportunity to intensify the use. 

Jim Gibson, Chief Executive Officer, commented:

"We have traded from this location for 23 years, and this continues our strategy of acquiring freehold interests so as to reduce our rental liability but also importantly so we can ensure our long-term occupation.  This particular site is under-utilised and in the medium-term ownership will allow us to create value."

Enquiries:

Big Yellow:

Nicholas Vetch, Executive Chairman  01276 477811

James Gibson, Chief Executive Officer 

John Trotman, Chief Financial Officer  

Teneo:

Ben Foster    020 7260 2700

 

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