Big Yellow Group PLC on Tuesday said it has received planning consent for a new site in Staines, southeast England. The self-storage company had exchanged contracts to acquire the site back in December 2020. The Surrey-based firm has received planning permission for a 65,000-square-foot store at the site. “In addition, consent was received to develop 9 industrial units totaling 99,000 sq ft,” Big Yellow added. The site has “excellent access” to Heathrow Airport and the M25 motorway, which encircles London, Big Yellow said in January 2021. “The GBP44.6 million development…
Category: Development News
Padlock Partners UK Fund II Announces Closing Of UK Debt Financing
Padlock Partners UK Fund II (the “Trust”) announced today that it has closed a £16,015,750.65 Senior Secured Term Loan Facility (the “Facility”). The Facility is solely secured by a first, fixed legal mortgage over the properties. The Facility includes a fixed interest rate of 9.3% per annum and a 2-year maturity, prepayable immediately with no penalty. An initial drawdown of £3,868,710.91 was used to fund the current development and working capital requirements of the Trust. Further drawdowns will be used to provide funding for future development and additional acquisition(s). The…
Basildon Toys R Us Building To Be Brought Back Into Use
Plans to bring Basildon’s empty Toys R Us back into use after nearly four years have been approved. Toys R Us had occupied the shop in Southernhay since 1985 before leaving four years ago after the firm went out of business. Now the vacant shop is set to become an “urban” storage facility called Storeaway following a successful change of use planning application submitted by Away Cheltenham. The new facility will largely serve residents in the town and businesses who need space for archiving, additional stock room space, furniture, and…
The Store Room Submits Plans For A New, Modern & Sustainable Self Storage Facility At Peterborough One Retail Park
The plans for the new facility include state-of-the-art self-storage units for local business and domestic use, as well as high-quality office and co-working space. The Store Room’s new development at Peterborough One Retail Park is due to be completed in 2023 and will not only meet the growing demand for self-storage but also offer flexible co-working solutions to support the local business community. This new facility is part of the wider development at the Peterborough One Retail Park, following the addition of the new Aldi store, which opened in June…
What Are They Building Near The Thurbers Avenue Curve?
If you’ve driven into the city from the south or headed out that way, you’ve probably noticed the five-story steel skeleton of a building rising there just south of the Thurbers Avenue curve on Route 95. So what exactly is it? According to a spokesman for A. Autiello Construction, it will be a self-storage operation with a slight twist from the typical storage facility: customers will be able to drive a U-Haul-type moving truck right into the building, close a garage door and unload their belongings securely and protected from…
New Self-Storage Operator StoreAway Secures £16 Million In Investment As It Builds Nationwide Portfolio
New self-storage market entrant StoreAway has secured a total of more than £16 million in investments just weeks after the launch of its flagship Liverpool site. Established by a team of self-storage management and property experts, the brand offers flexible storage space in city centres and urban settings by repurposing unoccupied retail and leisure outlets on some of the UK’s most well-known high streets. Despite still being in its infancy, StoreAway has captured the eyes and investment of Redevco, Legal & General, and Nash Business Capital, meaning it will now…
First-Rate Commercial Facility In Polmadie Nears Completion
CoVault Workspace, a Scottish self-storage, and flexible workspace company are in the final stages of development for its newest branch in Polmadie, Glasgow. The brand-new property is located on Polmadie Road, less than 15 minutes outside of Glasgow’s City Centre. Set in the heart of a rapidly-developing business hub, CoVault Polmadie is adjacent to M74 Junction 1A and is neighboured by Starbucks, Riteway Autocare, and IONITY electric charging stations – as well as a range of retail and dining establishments. With a total workspace area of over 5700 sq ft…
Shurgard Signs A New Purchase Agreement In The Netherlands
Shurgard, the largest developer, owner, and operator of self-storage centers in Europe – is purchasing a building located northeast of Utrecht province (The Netherlands). This new deal comes shortly after Shurgard secured a long-term lease agreement in the Amsterdam area and further highlights the Company’s expansion plan in the market. The future c. 3,100 sqm self-storage property is set to open in 2023 and will offer approximately 450 self-storage units to the area. It will also complement nicely one of our stores in the direct vicinity of that new property.…
Storage Unit Business Store & Secure Opens New Site In Poole
A Self-storage business has opened a large third site in Poole. Lucy and Sophie Maidman, the sisters behind Store & Secure, have opened the facility in Hamworthy and named it after their mother, who lived in the area for her whole life. The three-storey, 40,000sqft bright yellow building includes serviced offices and more than 500 storage units, including containers outside. Store & Secure already has large sites in Bournemouth and Basingstoke. The new base is named Joyce House after the sisters’ mother Joyce Maidman, who died in 2020. It is…
Self-Storage Firm Takes Over Former Next Store
A self-storage company is taking space at the former Next store in Liverpool city centre as part of a UK-wide expansion. Tony McDonough reports. Self-storage brand StoreAway is opening a new self-storage centre in the former Next store in Liverpool city centre. StoreAway’s move into a 40,000 sq ft space at the Church Street site is part of a nationwide expansion plan by the business which aims to transform around 250,000 sq ft of redundant retail space. It will open in Liverpool in early May. It has been founded by…