Category: Finance News

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…

Padlock Partners UK Fund III Completes Acquisition Of Woking 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 existing building at Forsyth Road, Sheerwater, Woking, Surrey GU21 5SB in the United Kingdom for £6,400,000. The purchase price was satisfied by way of cash from the proceeds of the Trust’s initial public offering. The Trust intends to convert and expand the existing warehouse into approximately 63,000 net rentable square feet of Class A self-storage space across 4 internal floors. The property is located in the…

Stor-Age continues To Trade Resiliently In SA And The UK

Stor-Age, South Africa’s leading and largest self-storage property fund, continued to deliver robust operating performance for the first five months of its 2023 financial year, as well as the 12-month trading period ending August 31, 2022. Across the portfolio of 85 trading properties in South Africa and the UK, Stor-Age delivered growth in occupied space of 57 600m² year-on-year. Increases in the average rental rate of 6.7% were achieved in South Africa and 10.8% in the UK. In South Africa, totally occupied space, including new developments and acquired trading properties,…

Safestore Expects Annual Earnings Rise Following Strong Third Quarter

Safestore Holdings PLC on Thursday said it expects to meet management guidance for its annual performance, following a strong third quarter from all businesses. For the three months that ended July 31, the self-storage space provider said revenue rose 15% to £54.7 million from £47.6 million the same period a year before. In the UK, Safestore’s revenue grew 12% year-on-year to £41.3 million, as the average storage rate rose 16% to £28.50. The smaller Paris business reported a 5.7% rise in revenue at £12.3 million, as the average storage rate…

Big Yellow Snaps Up Freehold Interest In Oxfordshire Site

Self-storage facilities operator Big Yellow Group said on Tuesday that it had acquired a freehold interest in a 1.8-acre site in Oxfordshire. Big Yellow stated it spent £13.5m on the asset – a site which it has traded for over two decades. The FTSE 250-listed firm added that the site includes two separately let buildings, which will provide vacant possession in 2030 and the opportunity to intensify use. Chief executive Jim Gibson said: “We have traded from this location for 23 years, and this continues our strategy of acquiring freehold…

Padlock Partners UK Fund II Completes Acquisition Of Houghton Regis Property

Padlock Partners UK Fund II (the “Trust”) announced today that it has successfully completed the acquisition of the freehold interest in the land and existing building at Cemetery Road, Houghton Regis LU5 5BJ in the United Kingdom (the “Houghton Regis Property”) for £2,300,000. The purchase price was satisfied by way of cash from the proceeds of the Trust’s initial public offering. The Trust intends to convert and expand the existing warehouse into approximately 35,000 net rentable square feet of Class A self-storage space. Total deal capitalization is £3,650,000 inclusive of…