Category: Finance News

Safestore outperforms but challenges may lie ahead

It is not just those selling houses that stand to benefit from a surge in property transactions. Self-storage specialist Safestore (SAFE) outperformed analyst earnings expectations during 2020 as both occupancy and average store rates improved. Closing occupancy stood at 80.8 per cent at the end of October, up from 77.6 per cent on a like-for-like basis the same time the prior year. That included a record fourth-quarter performance in which 228,000 square feet of occupancy was added. Safestore has estimated that UK owner-occupied housing transactions drive around 10-15 per cent…

New CFO Joins Self Storage Company as Plans for Growth Accelerate

Kangaroo Self-Storage, the company that makes storage simple, has made a senior financial appointment as it accelerates plans for growth as the country starts to come out of lockdown. With stores across Scotland and North West England, Kangaroo is gearing up for a period of significant business expansion through organic and acquisitive growth as well as development of the Kangaroo brand via Joint Venture partnerships and management contracts. Bryan Lee, appointed as Chief Financial Officer, joins the Board to lead the storage company’s finance and IT function and will be…

Self Storage Software Provider, Stora, Raises £0.5 Million

Industry veteran, David Milton, invests alongside venture capital firm, Techstart Ventures. Stora, a new web-first self storage software product, has raised £0.5m in a round led by Techstart Ventures to fund continued growth in the UK and US. Stora makes it easy for any self storage operator to embrace the web and run their business online. It gives them a website, designed to be their number one sales channel, that includes online bookings and payments. It automates key processes including recurring billing and customer check-in. In addition, each operator gets…

Padlock Partners UK Fund II Files Preliminary Prospectus for Initial Public Offering

Padlock Partners UK Fund II announced today that it has filed with the securities commissions or similar authorities in each of the provinces and territories of Canada, and obtained a receipt for a preliminary prospectus for an initial public offering of trust units. The preliminary prospectus qualifies the distribution of a minimum of C$20 million and a maximum of C$40 million of Class A Units, Class F Units, Class C Units and/or Class U Units of the Trust at a price of C$10.00 per Class A Unit, Class F Unit…

UK Self Storage Operator Lok’nStore Releases Pre-Close Financial Results for First Half of Fiscal 2021

Lok’nStore, the fast-growing AIM listed self storage company, is pleased to provide the following update on trading in the half year to 31 January 2021. Under government COVID-19 rules, self storage businesses have been designated as essential services and are permitted to operate during the lockdowns. We provide storage solutions for many customers in essential services including health care, emergency services and food distribution. Self storage is an increasingly integral part of the logistics system within the UK with around 32% of our business coming from commercial customers, many of…