Big Yellow Group plc (LON:BYG) has announced 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, Big Yellow Group 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.”