On 19 November 2019, our partner in the Armadillo joint venture, Big Yellow Group (BYG), released its results for the 6 months ending 30 September 2019.
Key highlights for the Armadillo portfolio include:
• Occupancy at 30 September 2019 was 78.7%, up from 76.7% at 30 September 2018 (pcp);
• Average annual rent per a sq ft at 30 September 2019 was £17.30, up from £17.26 at pcp; and
• The assessed aggregate value of the Armadillo centres, based on directors valuations, is approx. £114 m at 30 September 2019.
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