Big Yellow wins appeal for Wapping scheme

Big Yellow has won a planning appeal for a 132,000 sq ft storage centre and 114 flats in Wapping, E1. The self-storage firm said it expected the £56m facility would deliver net operating income return of approximately 9%. Around £36m will be spent on construction. Demolition of the existing buildings on the site will start shortly. A temporary 31,000 sq ft store, currently on site, will be closed when the development is complete. Chief executive Jim Gibson said: “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.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews