Big Yellow Group PLC — M&A Activity 2022

May 23, 2022

National Storage Mechanism | Additional information

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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