Kangaroo Self Storage has acquired three sites in the Midlands from Jumbo Self Storage for an undisclosed price.
The sites in Nottingham, Hanley and Tunstall, add a further 87,000 sq ft of rental storage space to the Kangaroo portfolio.
This transaction was funded by equity from Kangaroo Self Storage and debt provided by HSBC.
Chris Stevens, CEO of Kangaroo Self Storage, said: “The addition of this cluster of stores in the Midlands makes strategic sense alongside our existing portfolio of storage facilities. We have a strong pipeline that will see us continue to expand across the UK regions – bringing self-storage services to undersupplied markets across the UK.
“We’re very fortunate to retain the teams in store. What is clear is that there is a shared desire to deliver quality customer service, and this is borne out by enduring strong reviews and customer feedback, a cornerstone of Kangaroo. I very much look forward to working with the teams to continue to build on the customer service and storage offering. We are enormously thankful for the support of the Jumbo Self Storage team during the sale process and through the transition.”
Jonathan Whitfield, relationship director – real estate finance for HSBC, added: “As a bank we strongly believe in the self-storage market and like to back high-quality operators like Kangaroo Self Storage. We have worked with Kangaroo for the last eight years and we look forward to supporting their growth through this latest acquisition in the Midlands and forthcoming opportunities.”
Kangaroo Self Storage was advised by MBM Commercial, JLL and Temple Bright.
