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Further Growth Expected In European Self-Storage Sector

UK remains the market leader in terms of stock, however European stock levels have increased by 75% over the past five year. Average rent per square metre in Europe is €290 per sq m per annum, up 7.9% from last year. Commercial customers have increased from 24% in 2019 to 29% in 2022 A new report from the Federation of European Self Storage Associations (FEDESSA) and global real estate advisor, CBRE, has indicated that continued growth is expected in the European self-storage sector, following a record breaking 12 months for…

Self Storage Group ASA – Acquisition Of Property In Kristiansand, Norway

Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Fidjemoen in Kristiansand, Norway. The transaction has a value of NOK 19 million and the property has a potential lettable area of 2300 square meters. The facility is projected to open in Q2 2023 and will be operated under the City Self Storage brand. “We are pleased to announce the acquisition of this property in Fidjemoen, just west of Kristiansand. SSG already has one development project east of Kristiansand. With two City…

New Self-Storage Facility Opens In Swindon

Cubic Storage has set up a Swindon facility in the former home of Handy Garden Machinery near Hobley Drive. It provides a safe space for people and businesses to store their belongings, whether it’s a few bits and pieces or the contents of an entire house, with 24-hour CCTV monitoring on-site. There are unit sizes of nine, 15, 25, 35, 50, 75, 100, 125, 150, 200, and 250 sq ft available. A spokesman said: “You can discover a range of modern storage units to suit all of your needs. Whether…

Squab Storage To Create £3.5 Million Suffolk Centre In ‘Growth Hotspot’

A business centre and self-storage company are set to launch a new 32,000sq ft facility in Stowmarket as it broadens out from its Midlands base. Squab Storage says the £3.5m building at Atex Business Park, off Gun Cotton Way, could be home to more than 100 small and growing businesses. The company – which is based in Warwickshire – currently has centres in Leamington, Evesham and Rubery in the West Midlands and houses more than 200 businesses across the three sites. Work has already started on its state-of-the-art building in…

Cinch Storage To Open In Watford At Former Mothercare HQ

A part of Mothercare’s former headquarters in Watford has been acquired in a £9m purchase. Mothercare announced in 2020 that it would be vacating its headquarters in Cherry Tree Road, near the Dome roundabout, as part of a cost-cutting exercise. The retailer’s former 34,000sq ft warehouse has been now purchased by Cinch Self Storage and Padlock Partners UK Fund III. There are plans to renovate the “incredibly desirable location” into a “first-class” self-storage site in 2023. Richard Owen, director at Cinch Storage, said: “The unit provided us with a unique…

Padlock Partners UK Fund III Completes Acquisition Of Woking 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 existing building at Forsyth Road, Sheerwater, Woking, Surrey GU21 5SB in the United Kingdom for £6,400,000. The purchase price was satisfied by way of cash from the proceeds of the Trust’s initial public offering. The Trust intends to convert and expand the existing warehouse into approximately 63,000 net rentable square feet of Class A self-storage space across 4 internal floors. The property is located in the…

Stor-Age continues To Trade Resiliently In SA And The UK

Stor-Age, South Africa’s leading and largest self-storage property fund, continued to deliver robust operating performance for the first five months of its 2023 financial year, as well as the 12-month trading period ending August 31, 2022. Across the portfolio of 85 trading properties in South Africa and the UK, Stor-Age delivered growth in occupied space of 57 600m² year-on-year. Increases in the average rental rate of 6.7% were achieved in South Africa and 10.8% in the UK. In South Africa, totally occupied space, including new developments and acquired trading properties,…

Self-Storage Firm Eyes Growth With Acquisition

A South East self-storage provider is set for further growth following the acquisition of a local competitor, with the support of a seven-figure finance package from Lloyds Bank. Cinch Self Storage is now set to operate the three new locations – formerly owned by PD Self Storage – in Gillingham, Sittingbourne and Mitcham. The acquisition caps off a period of significant growth for the business, with the trio of sites taking the total number of trading locations to 12. This figure – along with the company’s headcount of nearly 40…

Another Flintshire Self-Storage Site To Open In Buckley

One of the UK’s biggest containerised self-storage companies is opening a new site in Buckley. It will be Lock Stock Self-Storage’s seventh site in Flintshire, and their 25th storage park across North Wales and the borders. The new Buckley site is on Globe Way, on the town’s Spencer Industrial Estate, where they are in the process of installing 120 storage units, adding to their existing sites in Sandycroft, Saltney, Mold, and Flint. The new 10 and 20-foot units, in their distinctive dark green livery, are being trucked onto the new…

1Box Self Storage – A Volta Global Company – Acquires Kubox And Kubox Home Delivery, Further Strengthening Its Leadership In The Netherlands

Landmark Acquisition Expands the 1Box Portfolio to 28 Self-Storage Facilities Across the Netherlands, With an Eye for Further Growth. 1Box Self Storage, the Dutch affiliate of Volta Global’s 1Box Group self-storage platform in Europe, has completed the acquisition of Kubox, another leading self-storage operator in the Netherlands. This acquisition brings the 1Box Self Storage portfolio to a total of 28 operational facilities in the Netherlands and cements 1Box as a leading brand in the industry. “The Kubox acquisition is a major strategic milestone for 1Box that was years in the…