United Kingdom self-storage operator Big Yellow Group PLC has released financial results for the third quarter of its 2025 fiscal year, which ended on Dec. 31. The company a quarterly revenue increase of 2%. Revenue is also up 2% year to date, according to a press release.
Big Yellow reported same-store, year-over-year revenue of £156.3 million for fiscal Q3. Total revenue for the quarter was £52.3 million. Same-store occupancy was 76.7%, down from 77.7% the prior year, while average rent per square foot increased 4% to £36.19. Occupancy across all locations decreased by 82,000 square feet, an improvement compared to a loss of 180,000 square feet during the same period in 2024, the release stated.
The company also reported that its full-year earnings growth will be impacted by a one-time payment of £4 million from an insurance claim related to the Cheadle Fire, with £3 million coming in December.
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“In our interim results, we highlighted the need to return occupancy to being a key driver of revenue growth,” said CEO Jim Gibson. “We have seen an increase in demand, starting from the beginning of November, and are pleased to be reporting an improvement in relative occupancy performance over the quarter and have narrowed further the year-on-year like-for-like gap. The improvement in net occupancy performance has been across domestic and business customers, and of note, we grew business occupancy this quarter by 15,000 [square feet], compared to a loss of 28,000 [square feet] in the same quarter last year.”
Founded in 1998, Big Yellow Group operates 111 self-storage locations in the U.K. under the Big Yellow Self Storage and Armadillo brand names, with most concentrated in Greater London and Southeast England. Its total portfolio comprises 6.6 million rentable square feet with plans to open two more locations this year and four next year. It also received permission to develop 10 facilities.
Source: Big Yellow Self Storage, Trading Statement
ISS Staff
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