Big Yellow Group PLC (LSE:BYG) has received planning consent for a new 55,000 square foot storage centre in Leamington Spa.
The company expects the facility to generate an 8.5% net operating income return at stabilisation on capital deployed of £13.3 million.
“We are pleased to have secured planning at Leamington Spa and anticipate that the store will open in summer 2027. We now have planning consent on 10 of our 13 pipeline stores," said chief executive Jim Gibson.
The group said the approval advances its development pipeline and supports its expansion plans. The new site will add to the company’s national portfolio of self-storage centres.