Category: Finance News

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…

UK Self Storage Operator Lok’nStore Releases Financial Results for Half Year Ending January 31

As we open new stores and build their occupancy, so their value increases significantly. The cash flow from these stores can then fund future growth and an increasing dividend to our shareholders,” U.K. self-storage operator Lok’nStore Group PLC has released financial results for the half year that ended Jan. 31, 2023. The company’s same-store revenue increased 10% over the same time the previous year. The growth was driven by improvements in occupancy and pricing but was tempered by heightened operating costs, according to a source. Company shares were down 2.7%…

Padlock Partners UK Fund III Completes Acquisition Of Brighton Self-Storage Property With Option To Purchase A Seaford 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 The Depository, South Road, Brighton BN1 6SB (the “Property”) in the United Kingdom via a share purchase agreement of the company Store 2 Capital Limited. Total deal capitalization including expected capital expenditures was £10,289,000. The Property was purchased via a subsidiary of the Trust (the “Buyer”) pursuant to a share purchase agreement, whereby the Buyer agreed to acquire 100% of the outstanding shares of…

Safestore Enters German Market Through Carlyle Joint Venture

Safestore Holdings PLC on Friday said it entered the German self-storage market through a new joint venture with investment firm Carlyle Group Inc. Safestore is a Hertfordshire, England-based self-storage provider. The FTSE-250 company said the joint venture has acquired the seven-store myStorage business as well as a freehold site in Rotterdam. Safestore’s initial investment in the joint venture is around EUR2.2 million for a 10% share. It will earn a fee for providing management services to the joint venture. Safestore added that it expects to earn an initial return on…

Shurgard Self Storage S A : Makes Acquisition In Sweden

Shurgard Self Storage SA (“Shurgard”): Shurgard acquires three stores from Instorage in Stockholm region (Sweden) LUXEMBOURG – Shurgard, the largest developer, owner, and operator of self-storage facilities in Europe is pleased to announce the acquisition of three facilities from Instorage in Sweden, strengthening its leading position in rentable space in this market and Europe. Instorage was founded in 2015. The three acquired properties are purpose-built and located in and near the Stockholm urban area: Nacka (recently opened in July 2022), Tyresö, and Uppsala. They will be complementary to Shurgard’s existing…