LONDON (dpa-AFX) - Self storage provider Big Yellow Group Plc (BYG.L) announced Monday that it has conditionally sold its industrial warehouse scheme at Harrow, London for gross sales proceeds of 61 million pounds.
The completion of the sale is expected to occur in August of this year, conditional on practical completion of the development.
The company has deployed around 27 million pounds of capital expenditure to date with a cost to complete of approximately 4.5 million pounds. This totals approximately 31.5 million pounds including the cost of the land.
Following the sale, Big Yellow is left with an acre of land on which it is building a new 82,000 sq ft store which is scheduled to open later this summer.
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