Big Yellow Group plc (LON:BYG) has announced that it has exchanged contracts to acquire a site at 60-70 The Highway, Wapping, London adjacent to its existing store for £18.6 million.
We will be seeking planning permission for a mixed-use scheme across both sites to comprise approximately 125,000 sq ft of self storage and ancillary space together with approximately 150 residential units.
The intention will be to build a new-build self storage centre on the newly acquired land. When this is complete consideration will be given to the future of the existing property.
James Gibson, Big Yellow Group Chief Executive Officer commented:
“This is a strategically located site on the fringes of Central London and continues our strategy of building large, high quality stores as close to London’s city centre as possible.”