Europe/UK Self Storage Operator Safestore Releases Half-Year Fiscal 2021 Results

Self storage operator Safestore Holdings PLC, with locations in Europe and the United Kingdom, has released its interim financial statement for the first half of its 2021 fiscal year, which ended April 30. The company experienced growth in revenue and occupancy for most of its operating portfolio, according to its report. Total revenue for the period was up 10.5% to £88.1 million, with “like-for-like” growth for the group also up 8.3%, using constant exchange rate (CER). Same-store revenue grew 9.1% using CER. Profit before income tax was £167.3 million, up…

Shurgard Self Storage Europe to Convert Two Buildings in Paris

Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based REIT Public Storage Inc., is converting two buildings in Paris to self storage. The first, northwest of Central Paris, will comprise 53,820 square feet in 800 units. The second, in southwest Paris, will have the same square footage in 750 units. Both are expected to be complete at the end of 2022. Shurgard operates 40 locations and has five other projects underway in Paris. The company offers 1.2 million net rentable square meters in seven countries. Source

Key Performance Indicators

While the self storage industry is growing, there is still room for facility owners to use data to improve facility performance. Before you can leverage your data, you need to know what it means and how to interpret it. Determining your Key Performance Indicators is your first step. Determining KPIs Looking at all your marketing data can be overwhelming and intimidating. Key Performance Indicators (KPIs) can help narrow your focus when looking at a large batch of data. These indicators can be anything from click-through rate to bounce rate. Looking…

Storable Wins Three ‘Best of Business’ Awards

Over the years, the businesses that formed Storable have learned the best way to innovate and constantly deliver the best products and services to the market. Every new product, every new capability and every investment seeks to fulfill the needs we hear from owners and operators like you. That is why these awards are more than bragging rights, they are validation from the market that Storable is listening and responding with products and services that do help self storage businesses grow. Storable won the following ISS Best of Business awards:…

Big Yellow Group Completes Armadillo Acquisition with Placing Funds

Big Yellow Group PLC on Thursday said it has completed its acquisition of Armadillo with funds from a recent placing. The Surrey, England-based self storage provider revealed plans to acquire the remaining 80% stake in Armadillo, last Wednesday. The purchase was funded by a placing worth GBP100 million from of 7.8 million shares, priced at 1,290 pence each, completed last Thursday. Big Yellow now owns 100% of Armadillo, which includes both Armadillo Storage Holding Company Ltd and Armadillo Storage Holding Company 2 Ltd. Big Yellow Group shares were trading down…

Abacus (ASX:ABP) Grabs Self Storage Portfolio for $160 Million

Abacus Property Group (ABP) has acquired a portfolio of self storage assets managed by Storage Kings in Sydney for $160 million. The portfolio of five assets provides more than 25,000 square metres of net lettable area and comprises three stores located in Chatswood, Artarmon and St Leonards. The assets are located within tightly held catchments, benefitting from significant self storage demand generated from above average household incomes, large proportions of renters and continually increasing density from apartment development” It also includes a site in Dee Why and a newly developed…

EU Investors Back $100 Million ‘COVID-19 Opportunity Fund’

Jameson Capital secured $25 million from two European cornerstone investors for a $100 million fund that will provide debt and take equity positions in real estate opportunities created COVID-19. Last-mile logistics, childcare, seniors living, self storage, data centres, medium density residential housing and healthcare are being targeted for the so-called special situations fund. As a secured lender will we will also share in exposure to any upside by taking a share of the profits at the end of the project” “We’ll be making loans to asset owners in various sectors,” said…

On the Rise: Self Storage Poised for a Bright Future in Southeast Asia

The demand for self storage in Southeast Asia has been growing steadily. Land is becoming scarce as cities become more densely populated, and the average house size is shrinking. As a result, many consumers are beginning to turn to self storage as an affordable solution to their lack of space. It’s likely that demand will remain, as storage is an essential need for many, whether for personal or business use. Here are some other things driving the market in the region: Land costs. Prices for residential, retail and industrial real…

Make Space Capital Partners I LP Acquires Storage Facility in Regina, Saskatchewan

Make Space Capital Partners I LP on behalf of its investors, and investors in Make Space Capital Partners Fund (together, “the Fund”), is pleased to announce the $4,420,000 acquisition of a stabilized self storage facility in Regina, Saskatchewan. This investment will add another 290 units and 57,300 ft2 of net rentable space to the current portfolio, as well as be the first Saskatchewan-based operation in the Fund. This facility provides stable revenues, as well as growth potential, making it an ideal acquisition for the fund.” Danny Freedman, owner of Make…

Safestore and Carlyle’s Joint Venture Acquires Self Storage Portfolio in The Netherlands

Global investment firm The Carlyle Group (NASDAQ: CG) and Safestore (FTSE 250: SAFE) today announced that their joint venture, established in August 2019, has acquired Opslag XL, a self storage operator with three stores in The Netherlands. The portfolio comprises three high-quality self storage stores, including two freehold locations in The Hague and Hilversum regions and one short leasehold in Amsterdam. The assets total c.7,000 sq metres (75,000 sq ft) of maximum leasable area. The Dutch self storage market offers an attractive opportunity given it is a still highly fragmented…