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13 Dec 2018 | 07:42

Big Yellow to acquire industrials estate in London for £28m

Big Yellow said Thursday it had exchanged unconditional contracts to acquire the Wyvern Industrial Estate in New Malden, London for £28m.

Big Yellow current occupied approximately half of the estate, with an 81,000 square foot net lettable area store, on an occupational lease which expired in 2026.

The acquisition removed two material risks for the company as there was 'no certainty the lease would have been renewed at its expiry, and the liability of future rent increases on this property could have been significant given its prime location in London,' Big Yellow said.

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