Category: Finance News

£37 Million Supports Acquisition of One of UK’s Largest Self Storage Providers

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…

Padlock Partners UK Fund IV Files Final Prospectus and Sets Closing Date for Initial Public Offering

The Trust is an unincorporated investment trust and was established for the primary purpose of investing in a portfolio of income producing commercial real estate properties in the United Kingdom with a focus on self-storage properties. Following completion of the Offering, the Trust intends to indirectly acquire one existing self-storage property and two redevelopment properties, each located in the United Kingdom.” Padlock Partners UK Fund IV (the “Trust”) announced today that it has filed with the securities commissions or similar authorities in each of the provinces and territories of Canada,…

Moorfield and Peloton’s UK Open Storage Logistics Venture Adds £26 Million Portfolio

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…

Shurgard Obtains Building Permit for North London Site

Direct project cost (excl. absorption cost) is estimated to amount to GBP 18.5 million and the expected property yield at maturity is expected to be within our guidance (8-9%).” Shurgard, the largest developer, owner and operator of self storage centers in Europe – has received planning permission for its development project in Tottenham (in the North of London). Shurgard’s most recent development pipeline, which has been publicly disclosed, includes the site. The property will be built on a freehold site and will replace an existing building. The future c. 8,200…

Stor-Age Boosted By Strong Rental Growth, Low Churn – With Five New Facilities Being Built

  In the UK, the group plans to develop five new properties, at a cost of £64 million (roughly R1.44 billion). This will add an estimated 270 000 square feet (about 25 110m2) in the gross lettable area to the portfolio.” Stor-Age, SA’s biggest self-storage property fund, says customer churn levels remain below pre-pandemic levels, while average rent climbed by 7.3% in South Africa, and more than 8% in the UK over the past year. Valued at about R5.9 billion on the JSE, Stor-Age’s portfolio comprised 86 self-storage properties across…

Self Storage Group ASA – Acquisition of property in Kristiansund, Norway

  We are pleased to announce the acquisition of this property in Kristiansund. The property has a great location, close to the airport, and only a few kilometers from the city center. Following this acquisition, SSG will have two facilities in Kristiansund, and a total of 5 facilities in the Møre and Romsdal region. This acquisition is in line with our strategy to grow our freehold portfolio in selected markets. The demand for self storage is growing, and the demand has proven to be resilient during previous recessions. Especially urbanization…

Self Storage Group ASA – Acquisition of landmark property in Malmö, Sweden

  We are pleased to announce this acquisition, which is our 2[nd] property acquisition in Malmö this year. The property has a central location with unique visibility from main roads. This acquisition is in line with our strategy to grow organically in the Swedish market. The property will give SSG a strong footprint in the Malmö, Sweden´s 3[rd] largest city” Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Lundavägen in Malmö, Sweden. The transaction has a value of SEK 39,8…

Self Storage Group ASA – Acquisition of property in Randers, Denmark

  We are pleased to announce this acquisition in Randers, Denmark´s 6[th] largest city. The property has a great location, just north of Randers city center. The property will be the 10[th] SSG freehold facility in Denmark, and our 2[nd] location in Randers. This acquisition is in line with our strategy to grow organically in the Danish market. There is a growing demand for our services, as urbanization and smaller living spaces cause an increasing need for external storage solutions” Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered…

Padlock Partners UK Fund III Completes Acquisition of Southend-On-Sea Self Storage 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 building at 53-57 Sutton Road, Southend-on-Sea, SS2 5PB, (the “Property”) in the United Kingdom for £4,404,500.” The Property is an existing four-storey building with expansion approvals for self storge in the busy seaside community of Southend-on-Sea, which is located 40 miles east of London with direct links to the city. The purchase and conversion to self storage present a unique prospect of being one of the…

Safestore Report Solid Trading in Q1, with Revenue Growth of 9.4%

Safestore Holdings plc (LON:SAFE) has announced its first quarter trading update for the period 1 November 2022 to 31 January 2023. Highlights Group revenue for the quarter in CER1 up 8.4% and 9.4% at actual exchange rates Like-for-like5 Group revenue for the quarter in CER1 up 3.4% UK up 3.5% Paris up 2.6% Spain up 7.1% Like-for-like5 average rate for the quarter up 6.0% in CER1 UK up 7.2% Paris up 1.0% Spain up 8.5% Like-for-like5 occupancy at 79.1% (2022: 81.5%) UK down 3.3ppts at 78.7% (2022: 82.0%) Paris up…