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Big Yellow Group PLC - Surrey, England-based self-storage facilities operator - Wins planning consent on appeal for a mixed-use site in Wapping, east London. The approval allows the development of a 132,000 square foot self-storage centre and 114 residential flats. Big Yellow says demolition of existing buildings on the site will start ‘shortly’. It will spend £36 million on construction costs, and it expects a 9% net operating income on total capital deployed of £56 million. ‘This is an important planning consent that has been secured in a strategic and rare central London location that we are confident will deliver a meaningful contribution to our revenue and earnings in due course,’ comments Chief Executive Officer Jim Gibson. Current stock price: 1,065.08 pence, up 2.1% in London early Tuesday 12-month change: down 20% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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