REG - Big Yellow Group PLC - Sale of industrial warehouse scheme at Harrow

Big YellowAnnouncement

23/05/2022 07:00

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RNS Number : 3411M  Big Yellow Group PLC  23 May 2022

 

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

 

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