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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

The Company has been focussed on the purchase of a suitable location for a larger more prestigious site and to get to the position of undertaking a ‘relevant’ trade. This enabled EIS 3 certificates to be issued in March 2019.

Old Trafford – The Company has purchased a site in Old Trafford, Manchester. Temporary Storage is being offered, whilst a full planning application is sought for the new store. The planning application has been submitted and we expect a response in May 2019. Building work is expected to commence as soon as planning permission has been received.

Storage (Cheshire) Ltd

The Company has been focussed on the purchase of a suitable location for a larger more prestigious site and to get to the position of undertaking a ‘relevant’ trade. This enabled EIS 3 certificates to be issued in March 2019.

Bury – The Company has purchased the site with planning permission already in place. The land is being purchased from the building contractor who is undertaking the building of the new storage facility, as part of a wider development. We anticipate that the completed building will be handed over for fit out at the end of April 2019 and fully open for business by the end of the third quarter.

 

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