Author: Shinil

MCS Group Completes Self-Storage Facilities

Main contractor MCS Group has completed two facilities for a major self-storage specialist. The company has provided units at Winwick Road, Warrington, and Pantheon Park, Wolverhampton, on behalf of Lok’nStore. Lok’nStore, which was established in 1995, is expanding across the country and has recently launched facilities at locations such as Ipswich, Hemel Hempstead, Leicester, Gloucester, Gillingham, Wellingborough, and Salford. Keir Edmonds, group managing director at MCS Group, said: “Our teams worked wonders to complete these Lok’nStore developments in Wolverhampton and Warrington within just a couple of weeks of each other.…

Padlock Partners UK Fund I Completes Disposition Of Newmarket Self-Storage Property

Padlock Partners UK Fund I (the “Trust”) announced today that it has successfully completed the sale of a newly developed self-storage property located in the United Kingdom (the “Newmarket Property”) to a subsidiary (the “Buyer”) of Padlock Partners UK Fund II (“Padlock II”) for an aggregate purchase price of approximately £6,680,000. The Newmarket Property was sold by a subsidiary of the Trust (the “Seller”) to the Buyer pursuant to a share purchase agreement, whereby the Buyer agreed to acquire 100% of the outstanding shares of a subsidiary of the Seller…

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

Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement with Mittegetlokale AS to acquire a property under development in Porsgrunn, Norway. The transaction has a value of NOK 17.8 million. The property has a potential lettable area of 1500 square meters. The facility is projected to open in Q1 2023 and will be operated under the City Self Storage brand. “We are pleased to announce this acquisition in Porsgrunn. SSG recently announced the acquisition of a property in Skien, and with this investment in Porsgrunn, we…

Arrow To Develop €20m Industrial Park In Ludwigsfelde, Germany

Arrow Capital Partners has acquired a 24,581 sqm commercial and industrial site in Ludwigsfelde, southwest of Berlin, to develop into a modern industrial park with a gross development value of ca. €20 million. This deal together with the recent acquisition of a brownfield site in the industrial harbour of Bremen highlight an expansion of the group’s broader European urban logistics development portfolio, which includes around €150 million of projects in Germany and €1 billion across the rest of Europe in the UK, Netherlands, Poland, Germany, Spain, and Italy. Commenting on…

UK Self-Storage Operator Safestore Buys Full Equity In JV Properties From Carlyle

U.K.-based self-storage operator Safestore Holdings PLC has acquired the remaining 80% equity in its joint venture (JV) with global private-equity firm The Carlyle Group for €67 million. The portfolio of 15 self-storage facilities in Belgium and the Netherlands comprises 592,000 square feet. The partnership had an enterprise value of €146 million, according to a press release. Safestore formed the JV in 2019 to acquire the six-property M3 Self Storage portfolio and enter the Dutch market. That purchase was followed by the six-property Lokabox self-storage portfolio in Belgium in 2020 and…

Big Yellow Self Storage Opens New Facility On Old Shoreham Road, Hove

A new storage facility has opened a new base complete with an art installation on its gates. Big Yellow Self Storage opened its 105th store in Hove over the weekend. Alongside flexible storage and office spaces, Big Yellow Hove has commissioned the latest public art installation for the area’s art and design scene. The installation, created by Brighton-based artist Kerry Lemon, is a partnership between Big Yellow Self Storage and a local artist creating a public art contribution for the new store. It comes after Kerry won the competition launched…

Acquisition Of Storagebase Adds 300,000 Sq Ft To Storage King’s UK Portfolio

Frome-headquartered self-storage operator Storagebase has been acquired by leading UK self-storage group Storage King, in a deal led by FRP Corporate Finance. Storagebase’s assets, which include four high-quality storage facilities in the south of England will now be operated by Storage King – which is owned by South Africa’s largest self-storage company, Stor-Age Property REIT Limited, which owns over 80 self-storage assets in South Africa and the UK. The acquisition includes more than 300,000 sq. ft of space, including a new 102,000 sq. ft facility under construction in Amesbury, Wiltshire.…

Stor-Age Continues To Add To Its UK Portfolio With R1.2 Billion Deal

Secures third storage-group acquisition in that country in its current financial year. Cape Town-based self-storage property fund Stor-Age has secured a UK-based storage group, Storagebase, for a purchase deal of £59 million (around R1.15* billion) to scale up operations in its existing UK portfolio, Storage King. The real estate investment trust (Reit) announced on Tuesday that this is its third acquisition in the UK within the current financial year and that the deal will see it add four more properties to its portfolio. The three acquisitions represent nine properties in…

Handy Garden Machinery In Swindon Becomes Demolition Site – Warehouse Turns Into A Self Storage Centre

A garden machinery shop that closed after 82 years because of lockdown pressures has transformed into a demolition site. Handy Garden Machinery was long established on Hobley Drive in Stratton, opposite Aldi, but was forced to shut in 2020 because it was not economically viable for the owners to continue with the lockdowns. Demolition contractor C J Charlton Group Ltd has gutted out the building’s interior and has erected metal fences with signs warning the site is dangerous. Plans to turn the warehouse into a self-storage center have been submitted…

Fox Storage Set To Move Into Premises On Westpark 26

UP to 30 new jobs are set to be created on a business park on the outskirts of Wellington. Work has started on the Block 5Z warehouse and storage facility at the Westpark26 development. The premises will be used by Fox Self Storage, taking occupation alongside Chudley International Removals, which is relocating from Ilminster, by the end of the year. The bespoke build by Summerifled is part of the Fox Group’s expansion plans and is due to create and retain up to 30 new skilled and semi-skilled jobs, while also…