Big Yellow warns property rates bill to rise 8.5pc by 2027.
Self-storage company Big Yellow said on Wednesday that its annual property rates bill was set to rise to £22.9m for the year ending 31 March 2027, an increase of £1.8m, or 8.5%, on current levels.
Source: Sharecast
Big Yellow said the uplift, which will affect 27 stores, reflects revised rateable values and the introduction of a new high‑value multiplier. The projected increase equate to roughly 0.9% of the group's last reported full‑year revenue.
The FTSE 250-listed firm noted that it had a track record of successfully reducing rateable values, having secured about £5m in rebates since listing in 2017, and said, at present, 63 appeals remain outstanding, with Big Yellow reviewing its strategy for future challenges.
Looking ahead, Big Yellow said like‑for‑like property rates were expected to rise by 3.1% and 4.2% in the following two years, before any potential rebates.
As of 0930 GMT, Big Yellow shares were down 0.37% at 1,086p.
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