Category: Finance News

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…

Huge Self-Storage Hub In Bath To Open After Firm Secures £5.2 Million Investment

Self-storage operator StoreAway has secured a £5.2m investment to open a new storage facility in the centre of Bath. The facility – located in a former furniture storage building – is the fourth opened by the firm StoreAway. The 27,000 sq ft facility on London Road will be home to 245 lockers across two floors in a building that was formerly used as a furniture storage depositary. StoreAway said the move was part of a drive to reinvent more than 250,000 sq ft of redundant retail space across UK high…

Shurgard Self Storage S A : Shurgard Opens New Self-Storage Property In Randstad-Rotterdam

Shurgard opens new self-storage property in Randstad-Rotterdam (the Netherlands). LUXEMBOURG – Shurgard, the largest developer, owner and operator of self-storage centers in Europe – is pleased to announce the opening of its new self-storage facility in Capelle aan den Ijssel, just east of Rotterdam. • This brand-new c. 4,500 sqm building is offering approximately 700 dry, clean and secure selfstorage units spread over two floors. • Shurgard Capelle Molenbaan nicely complements our Capelle Dalkruidbaan property in the direct vicinity, from which it will be remotely managed. • With its large…

Shurgard Self Storage S A : Opens New Self-Storage Property In Dusseldorf

Shurgard opens new self-storage property in Düsseldorf (Germany) LUXEMBOURG – Shurgard, the largest developer, owner, and operator of self-storage centers in Europe – is pleased to announce the opening of its new self-storage facility in Düsseldorf. This brand-new c. 4,500 sqm building is offering approximately 600 dry, clean and secure self-storage units spread over four floors. Located near the airport, Shurgard Düsseldorf Rath offers many benefits for private and professional customers, including convenient access, an easy (un)loading area, and excellent customer parking. Direct project cost (excl. absorption cost) amounts to…

Irish Self Storage Group In Multi-Million Pound Northern Expansion

Irish self-storage company U Store It is preparing to open a major new site in Belfast as part of a multi-million-pound expansion north of the border. The five-storey mega unit, just off Kennedy Way in west Belfast, is expected to open by the end of the year, offering between 1,500 and 1,600 storage units for consumers and small businesses. It comes just weeks after Ireland’s biggest self-storage company was acquired by US real estate group Heitman. The investment manager is paying €104 million (£90m) for U Store-it’s existing sites in…

Self Storage Group ASA – Acquisition Of Land Plot In Hønefoss, Norway

Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a land plot at Kilemoen in Hønefoss, Norway. The transaction has a value of NOK 3.4 million and the land plot has a gross area of 4670 m2. “We are pleased to announce this acquisition, adding an additional property to our land bank. This land plot will be developed with drive-up self-storage units. Following this acquisition SSG will have 3 sites in the Hønefoss region. There is a growing demand for our services, as urbanization…

Lok’nStore FY Self-Storage Revenues Up 17.3% YOY

Lok’nStore said on Monday that full-year self-storage revenues had risen 17.3% year-on-year, following “unprecedented occupancy” and pricing gains in the previous year. The AIM-listed firm said same-store self-storage revenue was up 24.9% on the previous year, while the price per square foot of occupied space had increased 13.0%, driven by continued strong demand for self-storage and good occupancy levels. Lok’nStore stated occupancy as a percentage of the lettable area was 80.3% at the end of the period, compared to 85.8% last year, as the group added more space in its…

Big Yellow Group 1Q Revenue Boosted By New Store Openings

Big Yellow Group PLC said Thursday that revenue for the first quarter of fiscal 2022 rose 24%, boosted by recent store openings. The U.K. self-storage company said total revenue was 45.5 million pounds ($54.5 million) in the quarter ended June 30 compared with GBP36.6 million for the same period last year. Like-for-like store revenue for the same period rose 9% to GBP39.4 million. However, like-for-like occupancy on June 30 stood at 88.3% compared with 91% on the same date last year, the company said. It said the board will continue…

Padlock Partners UK Fund III Completes Acquisition Of Watford Self-Storage Property

Padlock Partners UK Fund III (the “Trust”) announced today that it has successfully completed the previously announced acquisition of a self-storage property located in the United Kingdom for an aggregate purchase price of approximately £9,000,000 (excluding closing costs and applicable taxes), which was satisfied by way of cash from the proceeds of the Trust’s initial public offering (the “Offering”). The Trust indirectly acquired a freehold interest in a self-storage property located in Watford, United Kingdom, a municipality located approximately 16 miles northwest of London off the M25 motorway (the “Watford…

Big Yellow To Acquire Slough Site From Segro

Self-storage facilities operator Big Yellow has exchanged contracts to acquire a prime site on Farnham Road in Slough from Segro. Big Yellow said on Wednesday that the site falls within the Slough Trading Estate Simplified Planning Zone scheme, which sets out a series of conditions and, provided that a development fully complies with said conditions, it does not need to secure full planning permission to develop a proposed 62,000 square foot store on the site. The FTSE 250-listed group stated that as part of the transaction, it has also agreed…