Big Yellow Group (LSE:BYG) has agreed to sell its industrial estate in Bracknell, Berkshire, for £6.3 million, taking combined gross proceeds from three industrial property disposals to £81 million.
The Bracknell transaction follows previously announced sales of industrial assets in Harrow and Staines.
Together, the three transactions are expected to generate gross proceeds of £81 million for the self-storage group.
Bracknell Sale Continues Industrial Disposals
The agreed £6.3 million sale of the Bracknell estate represents the latest transaction in Big Yellow’s programme of industrial property disposals.
The source material does not provide details on the buyer, the expected completion date or how the proceeds from the transactions will be allocated.
The three disposals reduce Big Yellow’s exposure to industrial estate assets as the group continues to operate and develop its self-storage portfolio.
Big Yellow Operates 115 Self-Storage Stores
Big Yellow Group operates 115 self-storage stores with a maximum lettable area of 6.9 million square feet.
The company also has a development pipeline comprising 10 planned facilities with a combined 0.8 million square feet of space.
Its portfolio consists largely of freehold and long-leasehold properties and is concentrated in London and commuter towns, with additional operations in major regional conurbations.
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