Category: Recent Transactions

Padlock Partners UK Fund III Completes Acquisition of Southend-On-Sea Self Storage 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 building at 53-57 Sutton Road, Southend-on-Sea, SS2 5PB, (the “Property”) in the United Kingdom for £4,404,500.” The Property is an existing four-storey building with expansion approvals for self storge in the busy seaside community of Southend-on-Sea, which is located 40 miles east of London with direct links to the city. The purchase and conversion to self storage present a unique prospect of being one of the…

Padlock Partners UK Fund III Completes Acquisition Of Brighton Self-Storage Property With Option To Purchase A Seaford 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 building at The Depository, South Road, Brighton BN1 6SB (the “Property”) in the United Kingdom via a share purchase agreement of the company Store 2 Capital Limited. Total deal capitalization including expected capital expenditures was £10,289,000. The Property was purchased via a subsidiary of the Trust (the “Buyer”) pursuant to a share purchase agreement, whereby the Buyer agreed to acquire 100% of the outstanding shares of…

Safestore Enters German Market Through Carlyle Joint Venture

Safestore Holdings PLC on Friday said it entered the German self-storage market through a new joint venture with investment firm Carlyle Group Inc. Safestore is a Hertfordshire, England-based self-storage provider. The FTSE-250 company said the joint venture has acquired the seven-store myStorage business as well as a freehold site in Rotterdam. Safestore’s initial investment in the joint venture is around EUR2.2 million for a 10% share. It will earn a fee for providing management services to the joint venture. Safestore added that it expects to earn an initial return on…

Squab Storage To Create £3.5 Million Suffolk Centre In ‘Growth Hotspot’

A business centre and self-storage company are set to launch a new 32,000sq ft facility in Stowmarket as it broadens out from its Midlands base. Squab Storage says the £3.5m building at Atex Business Park, off Gun Cotton Way, could be home to more than 100 small and growing businesses. The company – which is based in Warwickshire – currently has centres in Leamington, Evesham and Rubery in the West Midlands and houses more than 200 businesses across the three sites. Work has already started on its state-of-the-art building in…

Cinch Storage To Open In Watford At Former Mothercare HQ

A part of Mothercare’s former headquarters in Watford has been acquired in a £9m purchase. Mothercare announced in 2020 that it would be vacating its headquarters in Cherry Tree Road, near the Dome roundabout, as part of a cost-cutting exercise. The retailer’s former 34,000sq ft warehouse has been now purchased by Cinch Self Storage and Padlock Partners UK Fund III. There are plans to renovate the “incredibly desirable location” into a “first-class” self-storage site in 2023. Richard Owen, director at Cinch Storage, said: “The unit provided us with a unique…

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…

Self-Storage Firm Eyes Growth With Acquisition

A South East self-storage provider is set for further growth following the acquisition of a local competitor, with the support of a seven-figure finance package from Lloyds Bank. Cinch Self Storage is now set to operate the three new locations – formerly owned by PD Self Storage – in Gillingham, Sittingbourne and Mitcham. The acquisition caps off a period of significant growth for the business, with the trio of sites taking the total number of trading locations to 12. This figure – along with the company’s headcount of nearly 40…

1Box Self Storage – A Volta Global Company – Acquires Kubox And Kubox Home Delivery, Further Strengthening Its Leadership In The Netherlands

Landmark Acquisition Expands the 1Box Portfolio to 28 Self-Storage Facilities Across the Netherlands, With an Eye for Further Growth. 1Box Self Storage, the Dutch affiliate of Volta Global’s 1Box Group self-storage platform in Europe, has completed the acquisition of Kubox, another leading self-storage operator in the Netherlands. This acquisition brings the 1Box Self Storage portfolio to a total of 28 operational facilities in the Netherlands and cements 1Box as a leading brand in the industry. “The Kubox acquisition is a major strategic milestone for 1Box that was years in the…

Sale Of Killian Hill Storage, Lilburn, Georgia, Sold By Midcoast Properties, Inc.

Midcoast Properties, Inc. announces the recent sale of Killian Hill Storage, located in Lilburn, Georgia. Midcoast Properties represented the Seller, with Dale C. Eisenman, CCIM as the lead broker. The facility was sold to a regional investment company. Killian Hill Storage, 4139 Five Forks Trickum Rd. SW is situated on 2.06 +/- acres, currently featuring 27,970 +/- rentable square feet. The fenced facility is comprised of 10 self-storage buildings with 200 standard non-climate units plus parking and boasts over 90% occupancy. Amenities include perimeter fencing, gated keypad entry, ample lighting,…

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…