(Alliance News) - Big Yellow Group PLC on Tuesday said it has forked out GBP16.5 million for a site in north London.
The Bagshot, England-based self-storage company will pursue planning permission to build a 68,000 square foot site at the location.
The 0.9 acre site, situated in London's Zone 2, is a "high-quality" addition to the company's pipeline, it said.
"This acquisition takes the number of stores in the group's pipeline to 14, of which eight have planning consent," Big Yellow added.
Big Yellow shares were 0.7% lower at 1,203.00 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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Big Yellow (BYG)