Category: Finance News

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…

Shurgard Self Storage S A : Makes Acquisition In Paris Region

Shurgard Self Storage SA (“Shurgard”) – Shurgard acquires one property from Box à la Carte in Paris region (France) LUXEMBOURG – Shurgard, the largest developer, owner, and operator of self-storage facilities in Europe – is pleased to announce the acquisition of the Box à la Carte facility located in Brie-Comte-Robert (Seine et Marne, Ile de France) reinforcing its position as the market leader in the Paris region. This marks the second acquisition in the last two months for Shurgard – after September’s deal in the Netherlands, and the third one…

Shurgard Self Storage S A : Opens New Self Storage Property In Cologne

Shurgard Self Storage SA (“Shurgard”) – Shurgard opens new self-storage property in Cologne (Germany) LUXEMBOURG – Shurgard, the largest developer, owner and operator of self-storage facilities in Europe – is pleased to announce the recent opening of its new self-storage property in Cologne, located in the state of North-Rhine-Westphalia (NRW). This brand-new building is offering c. 5,700 net sqm of storage space in approximately 800 dry, clean and secure self-storage units spread over a ground floor and two upper floors. The facility is located in a well-visible and easily accessible…

Shurgard Self Storage S A : Opens New Self Storage Property In Paris Region Sartrouville

Shurgard Self Storage SA (“Shurgard”) – Shurgard opens new self-storage property in Sartrouville (Paris region) LUXEMBOURG – Shurgard, the largest developer, owner, and operator of self-storage facilities in Europe – is pleased to announce the opening of its new self-storage property in Sartrouville, located in the northwest of Paris. This converted building is offering c. 4,900 net sqm of storage space in approximately 800 dry, clean and secure self-storage units spread over several floors. The facility is located inside the “deux rives” area, a tight meander of the Seine river,…

Self Storage Group ASA – Acquisition Of Property In Kristiansand, Norway

Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Fidjemoen in Kristiansand, Norway. The transaction has a value of NOK 19 million and the property has a potential lettable area of 2300 square meters. The facility is projected to open in Q2 2023 and will be operated under the City Self Storage brand. “We are pleased to announce the acquisition of this property in Fidjemoen, just west of Kristiansand. SSG already has one development project east of Kristiansand. With two City…

Squab Storage To Create £3.5 Million Suffolk Centre In ‘Growth Hotspot’

A business centre and self-storage company are set to launch a new 32,000sq ft facility in Stowmarket as it broadens out from its Midlands base. Squab Storage says the £3.5m building at Atex Business Park, off Gun Cotton Way, could be home to more than 100 small and growing businesses. The company – which is based in Warwickshire – currently has centres in Leamington, Evesham and Rubery in the West Midlands and houses more than 200 businesses across the three sites. Work has already started on its state-of-the-art building in…

Cinch Storage To Open In Watford At Former Mothercare HQ

A part of Mothercare’s former headquarters in Watford has been acquired in a £9m purchase. Mothercare announced in 2020 that it would be vacating its headquarters in Cherry Tree Road, near the Dome roundabout, as part of a cost-cutting exercise. The retailer’s former 34,000sq ft warehouse has been now purchased by Cinch Self Storage and Padlock Partners UK Fund III. There are plans to renovate the “incredibly desirable location” into a “first-class” self-storage site in 2023. Richard Owen, director at Cinch Storage, said: “The unit provided us with a unique…