Self-storage company Big Yellow has bought the freehold interest in the Oxford site it leases for £13.5m.
The 1.8-acre site on the Horspath Estate includes two separately let buildings, which the company said will provide vacant possession in 2030 and the opportunity to intensify the use.
Chief executive Jim Gibson said: “We have traded from this location for 23 years, and this continues our strategy of acquiring freehold interests so as to reduce our rental liability but also importantly so we can ensure our long-term occupation. This particular site is under-utilised and in the medium-term ownership will allow us to create value.”
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