Big Yellow raises revenues by 30%

Big Yellow has opened a new store in Hayes, west London, as it announces a 30% rise in revenues. A trading update for the quarter to 31 December, published this morning, said that revenue was £45.2m, up from £34.7m for the same quarter last year. Revenue for the year to date was up 26% at £127m. The storage firm said that it had increased the maximum lettable area by 1% to just over 6m sq ft, while occupancy stood at 85.5%. Rents have risen by 11% to £29.41. Big Yellow said it was currently on site at four of the stores in its development pipeline. It said that there had been minor delays but Hove, Harrow and Kingston North would all open this summer, while King’s Cross would open next summer. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews