Big Yellow, the listed self-storage company, is to take over the management of 10 stores in the north of England and Scotland.

The company has entered into a five-year management agreement with an affiliate of HSBC Specialist Investments Limited to the centres, to be branded as Armadillo Self Storage.

It will be entitled to certain management and incentive fees payable over the life of the agreement.

‘Big Yellow is a business where we have constantly focussed on cash flow and earnings generation, and this allows us to improve both,’ said chief executive James Gibson.