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Managed Storage EIS Fund No. 3

Managed Storage EIS Fund No. 3

Fundraise of over £6.6 million completed in March 2018

Following a successful fundraise of £6.6 million, the investee companies have been in the acquisition and establishment phase for two larger managed storage sites.

Storage (Pennines) Ltd

As previously advised, the Company purchased a site near Old Trafford football ground, Manchester. Obtaining planning permission became protracted and was eventually granted on appeal which delayed commencement of the build.

We are pleased to report that the construction is progressing very well with the main contractor expected to achieve practical completion in early May 2021. Thereafter, it will take approximately two months to complete the internal storage fit out before the facility is fully operational.

Please see www.surestore.co.uk for further information.

 

Ongoing Costs and Charges

Investors do not pay an annual management charge. Instead, the investee companies pay the Fund Manager 2% p.a.

Investors pay an annual custodial fee to the Fund’s Custodian. This is deducted form the amount set aside when they originally invested.

  • Up until April 2021, the Custodian was The Share Centre who charged £55 p.a. on a quarterly basis (with the last payment made in April 2021).
  • From April 2021, the Custodian is Woodside Corporate Services who charge £35 p.a. plus VAT.