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Big Yellow opens new West London location
(Sharecast News) - Self-storage firm Big Yellow said on Tuesday that it has opened its new 70,000 square foot store at Staines, West London. Big Yellow said the store, located prominently on the Causeway, will serve a new catchment area for the firm, with its nearest store being seven miles away.
The FTSE 250-listed group also highlighted that it has a further three stores due to open in the current trading year, in Queensbury, Slough Bath Road and Wembley, and noted that it anticipates opening a further four stores in the year ending 31 March 2027, with one in West Kensington following in 2028.
Chief executive Jim Gibson said: "This is the first opening of the nine sites that we are currently constructing, which will add 730,000 sq ft of capacity (11% of our current MLA).
"These sites, along with the other five in our pipeline, will add a proforma net operating income of approximately £37m, a return of 8.8% on the total development cost of £422m, including land already acquired, of which £214m has been spent to date."
As of 0855 BST, Big Yellow shares were up 0.64% at 938p.
Reporting by Iain Gilbert at Sharecast.com
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