Shurgard Self Storage Ltd., the European affiliate of U.S.-based real estate investment trust Public Storage Inc., has acquired the Top Box Self Storage portfolio in Germany for €69.2 million. The purchase includes five existing facilities and two development projects. according to a press release. The operating sites, which are in Cologne, Duisburg, Essen, Mannheim and Wiesbaden, comprise 184,062 square feet and are currently at an average of 70% occupancy. Expansions totaling 71,041 square feet are planned for next year. The two new developments, in Cologne and Frankfurt, will encompass 97,951…
Category: Finance News
Padlock Partners UK Fund IV Completes Acquisition Of Chippenham Property
We are excited to announce the acquisition of the Chippenham property as we continue to expand our portfolio in the United Kingdom. We look forward to serving the residents and businesses in such a great community,” – John Stevenson, Chief Executive Officer – Padlock Capital Partners Padlock Partners UK Fund IV (the “Trust”) announced today that it has successfully completed the acquisition of a development property located in Chippenham, United Kingdom (the “Chippenham Property”) for purchase price of £1,750,000, which was satisfied by way of cash from the proceeds of…
Lok’nStore Group Revenue Growth – Plans Self Storage Expansion in the UK
An additional uplift was provided by the opening of two new stores in Bedford and Peterborough, which the group noted had seen ‘very good’ early trading and took the size of its total estate to 42.” Lok’nStore Group ended the last financial year on a high after revenue growth in the second half of the period surpassed forecasts. The warehouse space provider’s total self-storage turnover expanded by 5.3 percent for the 12 months ending July, with sales in the latter six months increasing ‘slightly ahead of expectations at 11.2 percent.…
Padlock Partners UK Fund IV Completes Acquisition Of Newbury Property
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…
Padlock Partners UK Fund IV Completes Acquisition of Edmonton and Haverhill Properties
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 Company Reveals £3.5 Million Investment in Somerset
We will now be making a significant investment to rejuvenate the site, increasing the self-storage capacity from 7,000 sq ft to 37,000 sq ft and upgrading facilities. We will also be bringing our Squab workspace service to the site, providing flexible and bespoke accommodation as well as amenities and support to SMEs in a range of sectors.” – Alex Henney, Director of Squab A business centre and self-storage company has announced a £3.5m investment in Somerset. The Warwickshire-headquartered Squab Storage has completed the purchase of the Britannia Lanes in Bridgwater…
Lok’nStore Buys Eastbourne Site With Share Placing Funds
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 – Acquisition of Property in Gjøvik, Norway
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…
Devon Self Storage Company Expands With Fourth Site
Truro-based Ignition provides financial support to SMEs via commercial loans for specific business purposes, or by financing a wide range of business assets including vehicles, machinery and equipment. It was able to assist Your Super Storage with finance for 22 new storage units for the new site, worth £65,000.” A South West self-storage company has expanded and opened a fourth site in the county. Devon-based Your Super Storage has expanded with help from asset finance provider, Ignition. With three existing storage sites in and around Teignmouth and Totnes, Your Super…
Oaknorth Bank Backs Acquisition of Self Storage Provider
While details of the deal first emerged last week, OakNorth has now revealed that it provided a £377m load to UK Storage Company as part of the deal.” OakNorth Bank has revealed its role on one of the UK’s largest independent self-storage providers being bought by an investor syndicate. Originally focused in the South West, the UK Storage Company has a portfolio of 28 well-invested sites comprising both leasehold and freehold properties that consist of 11,000 storage units. Founded in 2005, the business has expanded its geographic presence through a…