Big Yellow has bought freehold sites in Wembley, North London and Kingston North in South West London taking its total pipeline of proposed new stores to 12.
Including the replacement of the self storage giant’s Battersea store, the dozen developments will result in additional capacity of approximately 760,000 sq ft, or 16% of the group’s portfolio’s current maximum lettable area.
Chief executive, James Gibson, said: “Our pipeline of proposed new stores will over the medium term make a considerable contribution to the group’s earnings and importantly continues to consolidate our leading position in London. We continue to look for opportunities to acquire more development land.”
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