Day: June 8, 2021

Acquisition Review: Rent-A-Space Shrewsbury

The Deal Recently, Heitman LLC., a global real estate investment management firm, acquired Rent-A-Space Shrewsbury. The investment marks the first acquisition expanding Space Station, a UK self storage platform that a Heitman affiliate acquired in late 2020, and is the platform’s first storage solution in the West Midlands region. Upon acquisition of the property, Heitman plans to complete the remaining lease-up of the asset while converting bulk space into additional conventional self storage units as part of the value proposition of the acquisition. The Facility The asset was purpose-built in…

Kangaroo Self-Storage Appoints Bryan Lee as New Chief Financial Officer

Dundee-founded storage firm Kangaroo Self-Storage has appointed Bryan Lee as its chief financial officer as it accelerates plans for growth as the country starts to come out of lockdown. Mr Lee joins the Board to lead the storage company’s finance and IT function and will be responsible for the mergers and acquisitions strategy and the raising of funding to finance growth. Mr Lee is a chartered accountant with almost 25 years of experience in industry and commerce, who has held leadership positions in publicly quoted, private-equity backed and family-owned businesses.…

Commercial Property: Room for Growth in Self Storage Sector

People decluttering to make space for home offices, a booming property market and the growth of online retailers have all led to the use of self storage space in the UK reaching a record level of 82 per cent of lettable space occupied. This new high coincides with the largest annual increase in occupancy levels since records began in 2004. Revenues of self storage operators increased by 16 per cent annually to £890 million in 2020, as clients retained their services longer due to lockdowns and more enquiries moved online…