Category: Finance News

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…

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…