LONDON (dpa-AFX) - Big Yellow Group Plc (BYG.L), a British self storage firm, said on Tuesday that it has acquired the freehold interest in the property, which it presently leases in Oxford, for 13.5 million pounds.
Jim Gibson, CEO, said: '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-utilized and in the medium-term ownership will allow us to create value.'
The 1.8 acre property includes two separately let buildings, which will provide vacant possession in 2030.
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