U.K. self-storage operator Big Yellow Group PLC has acquired a site in Hove, England, on which it intends to build a new self-storage facility. Pending city approval, the property will comprise 56,000 square feet of storage space.
Big Yellow had been tracking the site for nearly 20 years as the town has limited available land for development, according to the source. The property is near another company facility in Brighton, England.
The operator has 10 projects and 620,000 square feet of storage under development in England, at a cost of £173 million, the source reported. The projects include locations in Bracknell, Slough and Manchester. Big Yellow also recently opened a 55,000-square-foot facility in Central Guildford., and an expansion of its property in Wandsworth is due to open in May. Construction will begin on a new site in Wapping this spring. Expected to open this fall, it’ll contain 20,000 square feet of storage space.
“Securing sites and procuring planning permissions remains challenging and complex, and there will be setbacks,” said CEO James Gibson. “Notwithstanding this, we are confident of making progress and we have, therefore, decided to update the market more regularly with newsworthy events.”
Insider Media, Big Yellow Acquires Site in Hove