"The transaction is being led by CapitaLand, part of the Temasek portfolio, and represents one of the largest recent moves into the UK's self-storage sector."
"Access owns the freehold on the majority of its sites, significantly enhancing its underlying asset value and making it attractive to long-term investors seeking stable, income-generating real estate."
"Despite agreement in principle, bankers involved in the process are said to be cautious, given the current geopolitical and economic environment."
Singapore's sovereign wealth fund is set to acquire Access Self Storage for more than £1 billion, led by CapitaLand. This deal marks a significant investment in the UK's self-storage sector. Access Self Storage operates 57 sites, primarily owning the freehold on most locations, enhancing its asset value. Despite a slight decline in annual revenue, the company's property holdings attract long-term investors. However, bankers express caution due to rising borrowing costs and geopolitical instability, which may impact the deal's completion.
Read at Business Matters
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