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Big Yellow will spend GBP 36 million on construction costs, and it expects a 9% <\/span><\/span>N<\/span><\/span>et <\/span><\/span>O<\/span><\/span>perating <\/span><\/span>I<\/span><\/span>ncome on total capital deployed of GBP 56 million.”<\/span><\/span><\/span><\/p><\/blockquote>\n
Big Yellow Group PLC \u2013 Surrey, England-based self-storage facilities operator \u2013 Wins planning consent on appeal for a mixed-use site in Wapping, east London.<\/span><\/span><\/span><\/p>\n
The approval allows the development of a 132,000-square-foot self-storage center and 114 residential flats.<\/span><\/span><\/span><\/p>\n
Big Yellow says demolition of existing buildings on the site will start “shortly”. It will spend GBP 36 million on construction costs, and it expects a 9% <\/span><\/span>N<\/span><\/span>et <\/span><\/span>O<\/span><\/span>perating <\/span><\/span>I<\/span><\/span>ncome on total capital deployed of GBP 56 million.<\/span><\/span><\/span><\/p>\n
“This is an important planning consent that has been secured in a strategic and rare central London location that we are confident will deliver a meaningful contribution to our revenue and earnings in due course,” comments Chief Executive Officer Jim Gibson.<\/span><\/span><\/span><\/p>\n