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This latest acquisition brings the total number of branded UK Storage King facilities to 25. The store which started trading in 2002 was acquired at 80% occupancy, is fully fitted out and offers a maximum of 53,650 square feet of net lettable space for both residential and business customers in the Derby area. In addition to Self Storage the store offers a shredding business and a removal and collection service.
Robin Greenwood, Storage King CEO explained that for the third year in a row Storage King had demonstrated its commitment to purchasing quality assets in the Self Storage sector. This is the fourth acquisition since May 2011 and fits excellently into the Storage King portfolio: "We are really pleased to have purchased yet another quality Self Storage facility, and I would personally like to thank Chris Cadman the Managing Director for making the transaction process so easy and for handing over such a fantastic store and staff"
The purchase of Capital Storage Limited was supported through the strong financial backing provided by Cabot Square Capital LLP and a new £8.5 million debt facility provided by National Westminster bank.
Storage King continues to look for high quality, well located, freehold sites to expand their existing portfolio and welcomes approaches from any existing Self Storage operators who are considering marketing their property in the near future. Please contact Robin Greenwood or Emma Chesterton-Kay for an immediate response.
