Day: November 26, 2021

Mayfair Capital Enters UK Self-Storage Market With Purchase of The Storage Team

U.K.-based Mayfair Capital Investment Management Ltd. has acquired The Storage Team (TST) in Northwest England. The transaction marks Mayfair’s entry into the self-storage sector. The transaction includes all TST branding, intellectual property and real estate as well as the formation of a joint venture to manage and scale the portfolio, according to a press release. TST operates self-storage in St. Helens, Widnes and Wigan, England. Subsequent to the sale, Mayfair acquired three more existing facilities and two conversion properties it intends to open next year. The additions will expand the…

Go Store Self Storage Opens In York After Securing Seven-Figure Funding Deal

A storage company has expanded its UK operations with a new Yorkshire site after a rise in demand during the pandemic. Go Store Self Storage used a seven-figure funding package from HSBC UK to support the build and fit-out a 45,000 sq ft storage centre at Monks Cross, York. The site includes 950 storage rooms with 35 different sizes available. An additional £150,000 was also provided by the bank to support the company’s ongoing working capital requirements. Rory Windham, managing director at Go Store Self Storage, said: “The pandemic changed…

Self-Storage Company Opens New Branch In Shrewsbury

Self-storage company, Space Station, has announced the newest expansion to its UK operations with the opening of a new facility in Shrewsbury. Up to 750 individual storage units are available to rent. The new store boasts a sizable 57,000 square feet of storage space available for local customers and businesses, which includes up to 750 individual storage units to rent, providing a boost to the accessibility of externally sourced storage in the local Shropshire community. After purchasing from fellow storage company, Rent a Space, Space Station officially opened its doors…

Budgeting For The Big Stuff: How To Reserve Funds For Your Self-Storage Capital Expenditures

If an expensive component of your self-storage facility breaks, like your HVAC unit, will you have the necessary funds for repair or replacement? Without dipping into your operating cash flow? You will if you have a plan for ongoing capital expenditures! Find out how to create a budget and build up a reserve. One of the most attractive features of owning a self-storage property is low ongoing capital expenditures (capex). Unlike with multi-family, office or even retail properties, there’s very little required to keep the operating cash flowing. But while…

Go-ahead For Self-Storage Business At Old Cheltenham Lidl

The ground floor vacant supermarket in Grosvenor Terrace will have 173 individual storage lockers. Controversial plans to convert a former Lidl supermarket into a self-storage site in Cheltenham have been approved. Away Cheltenham Ltd has been granted permission to change the use of the ground floor vacant supermarket in Grosvenor Terrace and install 173 individual storage lockers there. They say these facilities are aimed at serving city centre residents and local businesses who need additional stock room space or furniture and IT storage. The initial plans included installing a 40ft…

Stor-Age Outshines Other JSE Property Competitors, Continues To Experience Strong Growth

STOR-AGE, South Africa’s largest self storage property fund, lifted its interim dividend 8.85 percent to 56.60 cents per share after it continued to outperform other listed property companies on the JSE in the six months to September 31, 2021. The results were driven by strong demand, growth in occupancy and rental rates, and disciplined cost control at a property level, said chief executive Gavin Lucas. He said even though the business model was tested over the past 18 months, “we made progress in all areas of our strategy: organic growth,…

Self Storage Group ASA – Acquisition Of New Property In Sarpsborg, Norway

Self Storage Group ASA has entered into an agreement to acquire a land property in Kampenesmosen in Sarpsborg, Norway. The transaction has a value of NOK 4.6 million. Self Storage Group will develop the plot into a purpose-built self-storage facility with a potential lettable area of 2000 square meters (21,527.82 Sq. ft.). The facility is projected to open in 2023, and will be operated under the City Self Storage brand. “The property is located in Sarpsborg in Viken county. The Sarpsborg/Fredrikstad region is the 5th largest metropolitan area in Norway.…

Open For Business: Edinburgh’s Largest Outdoor Container Storage Facility Plans To Double In Size

Sterling Sinclair Removals (SSR) has opened Edinburgh Self Store, the city’s largest outdoor container storage facility. Covering a 1.4-acre site close to the city centre, Edinburgh Self Store is located less than a mile from Haymarket – making it handy for people living within and outside the Capital. The facility has 100 units in place at the moment, with plans to more than double this number to 270. Each unit measures 1200 cubic feet, enough to store the equivalent of the contents of a 3-bedroom property. The watertight containers all…