Moorfield And Peloton In Debut Acquisition For £100 Million Open Storage Joint Venture

Peloton Real Estate and Moorfield Group, the UK-focused real estate investment manager, have formed a joint venture to put together an initial £100m portfolio of open and outdoor storage assets throughout the UK. The JV has made its first investment with the purchase of an 11.4-acre site in Garston, Liverpool, for £4m. The open storage strategy will focus on assembling a geographically and occupationally diverse portfolio of sites, with the aim of generating a secure income profile, while adding value through active asset management initiatives. Moorfield is the majority investor…

Heitman Invests In Irish Self-Storage Platform U Store It

Global Real Estate Investment Firm Heitman has invested an undisclosed amount in an Irish self-storage business. Heitman said it has invested in U Store It and plans to help expand the self-storage platform across Ireland and Northern Ireland. U Store It has six locations across four cities: Dublin, Belfast, Cork, and Waterford, and has plans to develop two additional sites in Dublin and Belfast. Caleb Mercer, Heitman’s managing director of European real estate Investment, said: “We are pleased to invest in the U Store It platform and to work with…

Shurgard Self Storage SA : Obtains A Building Permit In Amsterdam Region

Shurgard Self Storage SA (“Shurgard”) – Shurgard obtains a building permit for a self-storage property in the Amsterdam region. LUXEMBOURG – Shurgard, the largest developer, owner, and operator of self-storage centers in Europe – has received a building permit for a new storage facility in Diemen Visseringweg (Amsterdam region, Randstad, the Netherlands). The new c.4,000 sqm building will offer over 550 self-storage units to the nearby residential areas and business customers. It is set to open in the first half of 2023. Shurgard has another three properties in its organic…

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…

You Don’t Have To Leave Great Yarmouth To Get More Space

Unless you live in a house the size of Somerleyton Hall, it’s more than likely you’re going to struggle with space at some point. And there’s only so much you can fit into an overflowing loft or packed garage. Whether you need space for furniture following a house move, somewhere to store tools and equipment, or a place for all those bits and bobs that you just can’t bring yourself to throw away or sell, self-storage could be the answer. Ready Steady Store is a trusted, nationwide self-storage company with…

Big Yellow Storage In Slough Could Be An ‘Eyesore’ For Town

A Self-storage company is set to move into a closed-down supermarket building in Slough. Owners of Slough Trading Estate SEGRO confirmed on July 7 that Big Yellow storage will be taking over the former Sainsbury’s site on Farnham Road. And supermarket chain Aldi also announced it will be moving into the current Pets at Home building in spring 2023. The pet shop will then be taking over the former Staples store next door. In a statement to the Observer last week, a spokesperson for SEGRO said: “We have been in…

Swindon Debenhams Building Could Be Transformed Into Storage Space Under Plans

Swindon’s former Debenhams store could be turned into a 200,000 sq ft of storage place under new plans. A proposal has been submitted in a joint application by current owners Meadow Partners and inner-city self-storage operator StoreAway to repurpose the building. Under the plans, the now-closed department store would be replaced with 900 lockers inside the building. The building has been vacant since 2020. According to StoreAway, the acquisition would be part of a UK drive to transform more than a quarter of a million sq ft of redundant retail…

Plans For 100 Self-Storage Containers In Bangor

The city centre site could accommodate 67 of the larger containers and 33 of the small ones. One of the UK’s biggest container storage companies is hoping to develop a new site in the centre of Bangor. Lock Stock Self Storage has applied for full planning permission to place around 100 containers on land behind the West End, just off Euston Road. Applicant Stuart Bowker, operations manager of the firm, says in his application to Gwynedd Council, received on June 27, that the units would be for use by local…

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…