Category: Finance News

WUKPG Aims to Make a Splash in Growing Self-Storage Sector in the UK

Plans for a 51,000 sq ft scheme in Lancaster are in the works with another two developments in Horwich and Northwich also planned as the developer eyes a £150m self-storage portfolio by 2030. WUKPG has submitted plans to deliver 475 drive-up self-storage units on a former Travis Perkins site off New Quay Road in Lancaster. The developer acquired the site from the builders’ merchant for £1.1m last year. The scheme is WUKPG’s first foray into the self-storage sector and will provide units ranging from 50 sq ft to 300 sq…

Investment Fund for Wales Announces £40,000 Loan to Wrexham-Based Wynnstay Self Storage and Two Other Businesses

The first smaller loan deals from the British Business Bank’s £130m Investment Fund for Wales have been unveiled. The inaugural three deals from the Smaller Loans fund, managed by appointed fund managers BCRS, add up to a total of £95,000. The Investment Fund for Wales was launched by the Government-backed British Business Bank in November 2023 to boost the supply of early-stage finance to small and medium-sized businesses across Wales. The Fund offers a range of commercial finance options, with smaller loans from £25,000 to £100,000, debt finance from £100,000…

Aldar Partners With Carlyle to Invest in European and UK Self-Storage and Logistics

Aldar Properties, a real estate developer, investor and manager in the United Arab Emirates, is partnering with global private-equity firm The Carlyle Group to invest in self-storage and logistics in Europe and the United Kingdom. Aldar has committed AED 407 million to Carlyle Europe Realty, a pan-European real estate strategy, according to a press release. The initiative also includes other stakeholders, with the goal of investing in a portfolio of self-storage facilities and development sites in Western Europe. In addition, Aldar will have a majority stake in a Caryle-managed portfolio…

Storage World Given Consent for £8 Million Manchester Scheme (UK)

Located off Ambrose Street in Ashburys, the 125,000 sq ft facility would replace existing 1970s industrial warehouses. Storage World, which operates three sites across Greater Manchester, submitted proposals for the Ardwick scheme in 2022. The £8m development would be constructed on a 1.2-acre site and comprise between 800 and 1,000 storage units. Now, Manchester City Council has approved the five-storey project. The scheme would be Storage World’s second in Manchester, the first being less than a mile away on Ashton Old Road. The two other sites are in Middleton and…

Seven-figure HSBC Funding Boosts Expansion of My Lockup Storage Sites in the UK

A storage company is targeting expansion after securing a seven-figure funding package from HSBC UK. My Lockup provides private storage rooms for more than 2,000 customers to rent for business and household use across Yorkshire, the North East and Lincolnshire. With support from HSBC UK, My Lockup is set to make a significant expansion to its 11 sites, increasing lettable space capacity and, in turn, enabling a larger provision of storage facilities in rural areas across the North. As a result of the expansion, the business is expecting a 25…

Safestore Self Storage (UK) Reports Steady Revenue Growth Amid Occupancy Challenges

Self-storage company Safestore Holdings PLC has reported a modest increase in its fourth-quarter revenues, despite facing some headwinds in occupancy rates and revenue per available foot. The FTSE-250 listed firm saw its total revenues rise by 1.4% to £57.6 million. However, when adjusted for constant exchange rates, the quarter-on-quarter figures experienced a slight decline of 0.4%. In a more positive light, the company’s annual like-for-like revenues improved by 1.7%. This growth comes even as Safestore grapples with a decrease in closing occupancy, which fell by 1.4%, and a dip in…

Shurgard Acquires German Self-Storage Operator Top Box for €69.2 Million

Shurgard Self Storage Ltd., the European affiliate of U.S.-based real estate investment trust Public Storage Inc., has acquired the Top Box Self Storage portfolio in Germany for €69.2 million. The purchase includes five existing facilities and two development projects. according to a press release. The operating sites, which are in Cologne, Duisburg, Essen, Mannheim and Wiesbaden, comprise 184,062 square feet and are currently at an average of 70% occupancy. Expansions totaling 71,041 square feet are planned for next year. The two new developments, in Cologne and Frankfurt, will encompass 97,951…

Padlock Partners UK Fund IV Completes Acquisition Of Chippenham Property

We are excited to announce the acquisition of the Chippenham property as we continue to expand our portfolio in the United Kingdom. We look forward to serving the residents and businesses in such a great community,” – John Stevenson, Chief Executive Officer – Padlock Capital Partners Padlock Partners UK Fund IV (the “Trust”) announced today that it has successfully completed the acquisition of a development property located in Chippenham, United Kingdom (the “Chippenham Property”) for purchase price of £1,750,000, which was satisfied by way of cash from the proceeds of…

Lok’nStore Group Revenue Growth – Plans Self Storage Expansion in the UK

An additional uplift was provided by the opening of two new stores in Bedford and Peterborough, which the group noted had seen ‘very good’ early trading and took the size of its total estate to 42.” Lok’nStore Group ended the last financial year on a high after revenue growth in the second half of the period surpassed forecasts. The warehouse space provider’s total self-storage turnover expanded by 5.3 percent for the 12 months ending July, with sales in the latter six months increasing ‘slightly ahead of expectations at 11.2 percent.…

Padlock Partners UK Fund IV Completes Acquisition Of Newbury Property

Padlock Partners UK Fund IV (the “Trust”) announced today that it has successfully completed the previously announced acquisition of a redevelopment property located in Newbury, United Kingdom for an aggregate purchase price of £9,185,000 (exclusive of closing costs), which was satisfied by way of cash from the proceeds of the Trust’s initial public offering (the “Offering”). On July 26, 2023, the Trust indirectly acquired a freehold interest in a self-storage warehouse property located in Newbury, United Kingdom (the “Newbury Property”). The Newbury Property currently comprises an existing three-storey warehouse with…