Posted: 08 November 2016
Storage King is pleased to announce the continued expansion of their portfolio through the acquisition of Chester Self Storage, an existing freehold site in in Chester. 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 92% occupancy, is almost fully fitted out and offers a maximum of 25,000 square feet of net lettable space for both residential and business customers in the Chester area.
Robin Greenwood, Storage King CEO explained that this latest acquisition demonstrated Storage King’s commitment to purchasing quality, freehold assets in the Self Storage sector. This is the seventh 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 both Andy and Nick Wood for their patience during the transaction process and for handing over such a fantastic store and staff”.
The purchase of Chester Self Storage Limited was supported through the strong financial backing provided by Cabot Square Capital LLP and an increased 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 [email protected] or Emma Chesterton-Kay [email protected] for an immediate response.