Big Yellow hits out over Brexit handling by Westminster

“THE politicians haven’t got a clue about Brexit, so we have even less of a clue,” said the boss of Big Yellow Group today as the self-storage firm looked ahead to a potentially tricky 2017.

Executive chairman Nick Vetch’s business — with 73 storage sites based mainly in London and the South-East — has seen lower demand since the EU referendum, reflecting a slower housing market as well as the slackening pace of the wider economy.

“This business is exposed to general economic activity, so if that is slower we will trade slower… We are in the hands of the gods,” Vetch added.

October saw a sharper fall in occupancy than last year, although trading picked up in November.

But developing new sites is also “challenging” as policymakers focus on building homes and the capital’s population continues to grow.

“Should present uncertainties throw up new opportunities, we will pursue them aggressively,” he added.

Pre-tax profits eased 3% to £57.7 million in the six months to September 30.