Big Yellow makes ‘important acquisition’ in Aberdeen

Big Yellow has bought a 53,000 sq ft self storage centre in Aberdeen for £10m. The store, currently branded as Simply Self Storage, is the only purpose-built self storage centre in Aberdeen, and will be rebranded as Big Yellow. The purchase price represents 6% net initial yield, which Big Yellow said should grow to 9% within two years as the store benefits from being added to its digital platform. There is also surplus land, offering the opportunity for expansion. Chief executive Jim Gibson said: “This is an important acquisition for Big Yellow expanding our footprint in Scotland, where we now operate in three of the four main urban centres. “Aberdeen, an important university and energy resources city, is currently benefiting from higher oil and gas prices, and in the longer term it will play an important role in the transition to renewables over the next 20 to 25 years.” View and explore the market in Aberdeen here >> To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Image courtesy of PR