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07 Sep 2020 | 07:42

Big Yellow secures planning consent for two new London stores

(Sharecast News) - Self-storage company Big Yellow said on Monday that it has secured planning consent to build two new stores in London. The company will build a new 56,000 sq ft net lettable area store in Kingston and a 70,000 sq ft store in Wembley.

Big Yellow said its new 77,000 sq ft Camberwell store, which opened in July, is leasing up "well" with occupancy of 11.4% after eight weeks.

The company also said it has now secured planning consents on eight of the thirteen proposed stores in its development pipeline. Once built, these eight stores will provide around 500,000 sq ft of additional capacity.

Chief executive James Gibson said: "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."
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