Lok’nStore Strikes £39M Sale And Manage-Back Deal

Lok’nStore has agreed on the sale and manage-back of four of its freehold sites in a deal worth £39m. Self-Storage Trading LLP – an institutional managed-store client – is behind the acquisition, which concerns stores in Basingstoke, Cardiff, Horsham, and Portsmouth. These will remain branded Lok’nStore operations maintaining the operational footprint of the business. The net proceeds of the sale will be “recycled quickly” into new stores. Lok’nStore already has three further sites with lawyers and a number of other opportunities progressing. Executive chairman Andrew Jacobs said: “This transaction, at…

Nottingham

Using the Market Discovery Data Tool from StorTrack Explorer, we were able to view market data on Nottingham, a city in England. Rates have been trending upwards by 11% over the last year and the current supply is 0.50 square feet per capita. The 12-month trailing rental rate averages demonstrate a strong difference between market highs and lows, as much as £50 for a 100 square-foot unit. To view additional metrics and learn if this area presents a viable investment opportunity, visit the link labeled “Click Here to View Market…

Huge New Storage Facility And Units Planned For Winsford

Detailed plans have been submitted for a massive self-storage facility and new business units in Winsford. Rula Developments originally secured outline permission in 2019 for a development on land at Road One on Winsford Industrial Estate. Now the company has submitted a reserved matters application with more detailed proposals for what the scheme will look like. According to the plans, the site will cover 3,035 sq m and include one large self-storage facility at 1,394 sq m and six smaller units for a range of possible uses, including workshops, start-up…

Stor-Age Raises R575m To Fund Further UK Acquisitions

Thursday saw self-storage property fund Stor-Age announce the acquisition of a portfolio of four more properties in the UK that will largely be funded through its successful R575 million capital raise on the JSE. The rights issue, which was also announced and finalised on Thursday, was significantly oversubscribed. Stor-Age had initially targeted an accelerated bookbuild of R550 million. According to the group, the new equity was raised at a price of R14.30 per share, representing a 0.92% discount to the 30-day volume-weighted average traded price of its share. “The capital…

Padlock Partners UK Fund I Continues UK Growth with Acquisition of Existing Self-Storage Business in Bicester, England

Padlock Partners UK Fund I (the “Trust”) announced today that it has completed its acquisition of Cinch Self Storage Bicester, 1 Arkwright Rd, Bicester, England (the “Bicester Property”) for £3,200,000, which was satisfied by way of cash from the proceeds of the Trust’s initial public offering. The Trust indirectly acquired a leasehold interest in the Bicester Property via a purchase of the shares of the controlling company. Simultaneous to the closing, the Trust indirectly negotiated and signed a new 20-year lease under the Landlord and Tenant Act 1954. The self-storage…

Andrew Porter Ltd In Kendal Unveils Big Expansion

A self-storage firm in Kendal is expanding to provide storage solutions tailored to small businesses. Andrew Porter Ltd is completing an expansion with the arrival of 60 ’20 ft’ storage containers at its Mintsfeet site. This is the first facility of its kind in Kendal. Storage Coordinator Carol Hetherington. Stephen Gregson, the manager said: “Our first customers are ready to move in, and seeing the containers arriving on-site has bought the last few months of hard work to life! I am sure that these will be full before we know…

Revised Bid To Demolish Former Office Outlet Chester Store For New Self-Storage Business Submitted

Revised plans have been submitted to demolish the former Office Outlet store on Sealand Road, Chester and replace it with a self-storage facility. Applicants Lok’n’Store, which have been in the self-storage business for 25 years, originally submitted plans for the site, at the junction of Stadium Way, in May 2020. But, following objections and concerns raised from highways and the Environment Agency, planners went back to the drawing board and have since submitted further information along with revised proposals. Lok’n’Store has submitted plans for a self-storage business at the former…

Shurgard Wins Approval To Build Two Self-Storage Facilities In Netherlands

Shurgard Self Storage (SHUR.BR) said Tuesday that it received a building permit to deliver two new self-storage facilities in Rotterdam, the Netherlands. The Belgian self-storage provider will build a new self-storage site spanning 4,500 square meters and covert another building into a 2,000-square-meter self-storage property. The projects are expected to be completed by the end of 2022 and offer 700 and 300 units, respectively. Shurgard shares were down over 1% on Tuesday morning. Source

Shurgard To Buy Self-Storage Facility In Paris

Shurgard Self Storage (SHUR.BR) said Thursday it signed a purchase agreement for a building offering 550 self-storage units in Paris for an undisclosed sum. The 4,000-square-meter French self-storage property is scheduled to open by the end of 2023. The Belgian self-storage provider’s stock lost over 1% in morning trade. Source

Changes Made To Plan For Self-Storage Site At Gatebeck

The site is to be erected on land to the east of unit 1, Beckside Business Park. The opening hours of a proposed self-storage site featuring 120 containers were altered by the district council prior to the project being given approval. The series of 2.14m x 2.09m containers on land at Gatebeck, near Kendal, would have been accessible 24 hours a day under the terms of the initial application. But, after members of the public expressed concerns about these hours, South Lakeland District Council stipulated the site would only be…