Author: Shinil

Safestore Report Solid Trading in Q1, with Revenue Growth of 9.4%

Safestore Holdings plc (LON:SAFE) has announced its first quarter trading update for the period 1 November 2022 to 31 January 2023. Highlights Group revenue for the quarter in CER1 up 8.4% and 9.4% at actual exchange rates Like-for-like5 Group revenue for the quarter in CER1 up 3.4% UK up 3.5% Paris up 2.6% Spain up 7.1% Like-for-like5 average rate for the quarter up 6.0% in CER1 UK up 7.2% Paris up 1.0% Spain up 8.5% Like-for-like5 occupancy at 79.1% (2022: 81.5%) UK down 3.3ppts at 78.7% (2022: 82.0%) Paris up…

Storage Giant Launches New High-Security Storage Facility in Bridgend

Storage Giant has always been a go-to choice for start-ups and entrepreneurs to establish their SMEs in our office and storage spaces, or for larger firms to set up satellite offices, and we know this is something local entrepreneurs in Bridgend will tap into. The Storage Giant story continues to be one of steady, managed growth and we continue to expand our portfolio in 2023, with a new Storage Giant facility in development, in Nottingham, set to open this year with several more in the pipeline, including Stoke-on-Trent, Willenhall, Kidderminster…

Huge Self Storage Container Development Approved for Stockton Site

Scheme includes ‘up to 470’ steel shipping containers, access roads and a site office.   The proposal will provide locally available and accessible storage units, which are mainly to be used by businesses and residents. In this respect, the proposal will support people in the local area by providing for their storage needs away from home.” A huge self-storage container scheme has been approved for Stockton. The development will see up to 470 steel shipping containers at a site off Junction Road. Stockton Council has granted permission for the scheme,…

Cheadle Self Storage Facility to Be Rebuilt After Fire

After being destroyed by fire in 2022, plans have been submitted to Stockport Council to rebuild a self storage facility off the A34 in Cheadle. Should Orbit’s plans be approved, construction on site is expected to directly support around 170 full-time equivalent jobs and add over £27 million into the local economy, falling to £12 million once the self storage facility is operational.” Site owners, Orbit Investments (part of the Emerson Group of companies, which includes commercial landlord Orbit Developments), have submitted plans to replace the Armadillo self storage warehouse…

UK Self Storage Operator Lok’nStore Releases Financial Results for Half Year Ending January 31

As we open new stores and build their occupancy, so their value increases significantly. The cash flow from these stores can then fund future growth and an increasing dividend to our shareholders,” U.K. self-storage operator Lok’nStore Group PLC has released financial results for the half year that ended Jan. 31, 2023. The company’s same-store revenue increased 10% over the same time the previous year. The growth was driven by improvements in occupancy and pricing but was tempered by heightened operating costs, according to a source. Company shares were down 2.7%…

Padlock Partners UK Fund III Completes Acquisition Of Brighton Self-Storage Property With Option To Purchase A Seaford Property

Padlock Partners UK Fund III (the “Trust”) announced today that it has successfully completed the acquisition of the freehold interest in the land and building at The Depository, South Road, Brighton BN1 6SB (the “Property”) in the United Kingdom via a share purchase agreement of the company Store 2 Capital Limited. Total deal capitalization including expected capital expenditures was £10,289,000. The Property was purchased via a subsidiary of the Trust (the “Buyer”) pursuant to a share purchase agreement, whereby the Buyer agreed to acquire 100% of the outstanding shares of…

Safestore Enters German Market Through Carlyle Joint Venture

Safestore Holdings PLC on Friday said it entered the German self-storage market through a new joint venture with investment firm Carlyle Group Inc. Safestore is a Hertfordshire, England-based self-storage provider. The FTSE-250 company said the joint venture has acquired the seven-store myStorage business as well as a freehold site in Rotterdam. Safestore’s initial investment in the joint venture is around EUR2.2 million for a 10% share. It will earn a fee for providing management services to the joint venture. Safestore added that it expects to earn an initial return on…

Shurgard Self Storage S A : Makes Acquisition In Sweden

Shurgard Self Storage SA (“Shurgard”): Shurgard acquires three stores from Instorage in Stockholm region (Sweden) LUXEMBOURG – Shurgard, the largest developer, owner, and operator of self-storage facilities in Europe is pleased to announce the acquisition of three facilities from Instorage in Sweden, strengthening its leading position in rentable space in this market and Europe. Instorage was founded in 2015. The three acquired properties are purpose-built and located in and near the Stockholm urban area: Nacka (recently opened in July 2022), Tyresö, and Uppsala. They will be complementary to Shurgard’s existing…

Magenta Self Storage Expansion Means More Flexible Storage, Office And Workspace For Reading

New facility breathes new life into an ‘old concrete giant’ Over the last couple of years, the self-storage industry has expanded exponentially – in the UK alone there are now more than 2000 facilities. With the average size of a self-storage facility now at 25,000 sq ft, the UK has 52 million sq ft of storage space available. Magenta Self Storage has undergone substantial growth over the last two years, opening a new cutting-edge facility in Acton, West London in 2021 – and is now welcoming its sixth store in…

Shurgard Self Storage S A : Makes Acquisition In Paris Region

Shurgard Self Storage SA (“Shurgard”) – Shurgard acquires one property from Box à la Carte in Paris region (France) LUXEMBOURG – Shurgard, the largest developer, owner, and operator of self-storage facilities in Europe – is pleased to announce the acquisition of the Box à la Carte facility located in Brie-Comte-Robert (Seine et Marne, Ile de France) reinforcing its position as the market leader in the Paris region. This marks the second acquisition in the last two months for Shurgard – after September’s deal in the Netherlands, and the third one…