Category: Finance News

Padlock Partners UK Fund IV (the “Trust”) announced today that it has successfully completed the previously announced acquisition of a redevelopment property located in Newbury, United Kingdom for an aggregate purchase price of £9,185,000 (exclusive of closing costs), which was satisfied by way of cash from the proceeds of the Trust’s initial public offering (the “Offering”). On July 26, 2023, the Trust indirectly acquired a freehold interest in a self-storage warehouse property located in Newbury, United Kingdom (the “Newbury Property”). The Newbury Property currently comprises an existing three-storey warehouse with…

We are thrilled to be able to secure these properties for our continued expansion in the United Kingdom. Both the Edmonton and Haverhill properties are superb sites that will be a great addition to our self-storage portfolio of Class-A properties. We look forward to serving the neighborhoods and local areas with our unique brand of self-storage and lifestyle services,” – John Stevenson, CEO Padlock Partners UK Fund IV (the “Trust”) announced today that it has successfully completed the previously announced acquisition of two redevelopment properties located in Edmonton and Haverhill,…

Self-storage operator Lok’nStore Group announced the first deployment of capital from its recent placing on Monday, as it acquired a new 60,000 square-foot freehold ‘landmark’ site in Eastbourne, Sussex. The AIM-traded firm said the move was the beginning of its expansion plans, following the significant injection of £19.8 million in funding. It said unconditional contracts for the new site had been exchanged, with the Eastbourne location providing an opportunity for the company to establish a presence in the Sussex region, catering to growing demand. In addition to the new acquisition,…

Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property under development in Skjerven næringspark in Gjøvik, Norway. The transaction has a value of NOK 18.9 million and the property has a potential lettable area of 1400 square meters. The facility is projected to open in the first half of 2024 and will be operated under the City Self-Storage brand. We are pleased to announce the acquisition of this property, which will be our 2nd facility in Gjøvik. With this acquisition, we strengthen…

A £37million loan from OakNorth Bank has supported the acquisition of UK Storage Company, one of the UK’s largest independent self-storage providers. Founded in 2005 by Keith and Cathy Taylor, UK Storage Company opened its first site in Bridgwater, Somerset, with the site also being used as its headquarters. Its second site soon followed in Taunton, Somerset, and today, the business operates 28 stores across England. Totalling over 880,000 sq ft of storage space, all of UK Storage Company’s sites are fully automated, offering customers 24-hour access to their units…

Moorfield Group and Peloton Real Estate’s UK open-storage logistics facilities investment venture has added four sites to its portfolio. The partnership has acquired the portfolio, comprising four sites in Newport, Peterborough, Preston and Tewkesbury for £26m (€29m). The sites are leased to used vehicle marketplace BCA.” In July last year, Moorfield and Peloton partnered to create the venture which expects to put together an initial £100m portfolio. Moorfield, investing on behalf of its Moorfield Real Estate Fund V, is the majority investor in the joint venture. Peloton will mainly be…