Edward West edward.west@inl.co.za STOR-AGE, South Africa’s largest self storage property fund, has acquired a four-property portfolio in England, its third acquisition there in 12 months, for £59 million (R1.16 billion) as part of a joint venture with the Moorfield Group.
The portfolio, comprising modern, purpose-built properties in the south of England and the West Midlands, will add significant financial and operational scale to Stor-Age’s UK operations, Storage King, a statement said yesterday.
Stor-Age chief executive Gavin Lucas said they made a strategic entry into the UK self-storage market a little more than four years ago, in November 2017.
“Since then, we’ve seen Storage King deliver not only superb operating results year after year, but we have also seen it grow significantly, from 13 properties to 30, with a…