Ancora urges Big Yellow Group to explore potential sale

Ancora Holdings Group, an Ohio-based activist investor, is urging UK self-storage operator Big Yellow Group to explore a potential sale. After acquiring a stake of more than 4% in the company, Ancora argues that Big Yellow is materially undervalued, claiming its shares trade at a 39% to 40% discount to net asset value.

Ancora suggests that a sale would provide the “best risk-adjusted outcome for shareholders,” citing the company’s premium London-based property portfolio and resilient business model. The investor identified several potential financial buyers, including KKR, Heitman, and Nuveen, as well as US-based competitors such as Public Storage and Extra Space Storage.

Big Yellow, the UK’s largest self-storage provider, has seen its shares rise by over 5% following the announcement. The company previously engaged in strategic discussions with Blackstone, though those talks were terminated in late 2025. Current market conditions, including rising UK interest rates and a sluggish housing market, have impacted domestic storage demand.