Big Yellow Group has acquired a site at 60-70 The Highway in Wapping, E1, for £18.6m.
The company will lodge plans for the site, which is located adjacent to one of the company’s existing stores, to build a mixed-use scheme with 125,000 sq ft of self-storage space with 150 homes.
James Gibson, chief executive officer of Big Yellow Group, said: “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.”
Last month, the company said the ongoing Covid-19 pandemic could “present opportunities for the group to grow its development pipeline” during its financial results for the year to 31 March.
Chairman Nicholas Vetch said the company was in a “relatively strong position” to “exploit these opportunities” given its balance sheet and headroom on debt facilities.
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