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Managed Storage EIS Fund

Managed Storage EIS Fund

Fundraise of £10 million completed in March 2017

Following a successful fundraise of £10 million, the investee companies have been in the acquisition and establishment phase for the four managed storage sites.

Storage (WM) Ltd

The Company’s original focus was to get its first site up and running and therefore undertaking a ‘relevant’ trade. This enabled EIS 3 certificates to be issued in March 2018. Now that the first site is open, the Company has a dual focus of increasing the amount of area let in the open site and the purchase, build and fit out of the second site.

1. Cannock – As at April 2019, occupancy was more than 20% up on the model shown in the Information Memorandum, standing at over 51% of available capacity (25% of maximum capacity). In addition, the yield is more than £2 per square foot higher than originally planned. It is anticipated that management accounts will show that the site reached its breakeven point in the second quarter of 2019, a full two years ahead of when was originally anticipated. (Please see pictures below).

2. Burton on Trent – Planning permission has been granted. Preliminary works are underway including the construction of the new access road. We anticipate construction of the building will commence in May 2019.

Storage (NW) Ltd

The Company’s original focus was to get its first site up and running and therefore undertaking a ‘relevant’ trade. This enabled EIS 3 certificates to be issued in January 2018. Now that the first site is open, the Company has a dual focus of increasing the amount of area let in the open site and the purchase, build and fit out of the second site.

1. Bolton – As at April 2019, occupancy was  over 40% up on the model shown in the Information Memorandum, standing at over 63% of available capacity (53% of maximum capacity). In addition, the yield is more than £2 per square foot higher than originally planned. As a result of this excellent performance, this site is trading profitably, a full two years ahead of when was originally anticipated.(Please see pictures below).

2. Wigan – The plans for this site have been completed, with planning permission awaited. As soon as this is received, building work will commence.

 

Cannock (Before)

 

Cannock (After)

 

Bolton (Before)

 

Bolton (After)

 

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