Big Yellow Group PLC - Surrey, England-based self-storage facilities operator - Buys the freehold interest in a 1.8 acre site in Oxford for GBP13.5 million. Says the site includes two separately let buildings, which will provide vacant possession in 2030 and the opportunity to intensify the use.
Chief Executive Jim Gibson comments: "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."
Current stock price: 1,236.00 pence, up 1.0% on Tuesday in London
12-month change: down 21%
By Sophie Rose; sophierose@alliancenews.com
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Big Yellow (BYG)