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Storage King acquires Red Self Storage

Posted: 25 January 2012

25 Jan Storage King Acquires Red Self Storage

Storage King, the rapidly expanding UK self storage operator, is pleased to announce its first acquisition for 2012, the Red Self Storage facility in Dartford. This latest acquisition supports the planned growth strategy of the business and brings the total number of UK operated Storage King facilities to 25.

Red Self Storage is currently 50% occupied and when completely refurbished, it will provide 44,600 sq ft of net let-able space for both home and business self storage requirements in the Dartford area.

In addition to self storage services, Red Self Storage offers growing or start-up businesses office space to let from 7,500 sq ft on flexible rental terms and sizes.

Robin Greenwood, Chief Executive Officer, Storage King welcomed the latest acquisition, explaining that for the second time in less than 12 months, Storage King had demonstrated its commitment to purchasing quality assets in the self storage sector to support the future growth: "We have ambitious expansion plans and the acquisition of Red Self Storage in Dartford will add tremendous value to our portfolio. This acquisition demonstrates our continued commitment to purchasing quality assets in this sector which we are able to achieve through the strong financial backing provided by our investor Cabot Square Capital."

Storage King is on the acquisition trail in 2012 and continues to look for high quality, well located, freehold sites to expand the portfolio and welcomes the opportunity to discuss opportunities with existing self storage operators who are considering marketing their property in the near future.

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