Big Yellow acquire new Slough location
Surrey-based self-storage company Big Yellow has exchanged contracts to acquire its new site on Farnham Road in Slough.
The site, which is located within the Slough Trading Estate Simplified Planning Zone (SPZ), is intended to be the location of a proposed 62,000 sq ft store. The conditions of the SPZ mean that, providing a development fully complies with stipulated guidelines, full planning permission is not needed.
Read more - SEGRO retains long-term customer on Slough Trading Estate
As part of the transaction the group has agreed to surrender the lease on its current Slough location on Whitby Road, currently leased from SEGRO – who are also the sellers of the freehold on the new store.
The lease surrender will take effect six months after the completion of the new store, which is anticipated to open in Summer 2024 with a total development cost of approximately £19 million.
Jim Gibson, Chief Executive Officer, said: "This is a high-quality addition to the Group's pipeline. The acquisition allows us to extinguish a rental liability and provides the Group with a more prominent location to operate from in Slough."
Read more - SEGRO develops first multi-storey building in Slough
