Parrédaction Publié Oct 15, 2008

Lancement du réseau GESS

Avec ses 40 sites de Self Stockage en France, GESS est un réseau dynamique regroupant plus de 14 sociétés de selfs stockages, 130 déménageurs ainsi que des sociétés prestataires de services (Kiloutou, Enumeris, Crefidem..) répartis dans toute la France et bientôt dans l’international.

Les professionnels sont répartis sur toute la France et bientôt dans plus de 9 pays en Europe. Les utilisateurs pourront bénéficier d’un service très large et qualifié grâce à ce regroupement vertical, leur facilitant leur opération de déménagement et stockage.

Pour vous renseigner sur le GESS:

Pierre Rousselle
Coordinateur GESS

2, rue des Charretiers
95100 Argenteuil


Parrédaction Publié Oct 11, 2008

Les chiffres de Big Yellow pour 2008 montrent un net ralentissement du marché annuel

uarterly highlights

• Total store revenue for the quarter was £14.2 million
– Up 1% from £14.1 million for the same quarter last year*
– Down 5% from £15.0 million for the quarter to 30 September 2008

  • This excludes management fees earned of £0.3 million (same quarter last year: £0.0 million, quarter to 30 September 2008 £0.6 million)

• Revenue for the quarter in the 32 same store portfolio was £11.0 million
– Down 5% from £11.6 million for the same quarter last year
– Down 6% from £11.7 million for the quarter to 30 September 2008

• All stores average achieved rental of £26.29 per sq ft
– Up 2% from £25.80 for the same quarter last year
– Down 3% from £27.17 for the quarter to 30 September 2008

• Average occupancy of all stores in the quarter was 1,778,000 sq ft
– Down 3% from 1,841,000 sq ft for the same quarter last year
– Down 2% from 1,809,000 sq ft for the quarter to 30 September 2008

• Closing occupancy was 1,746,000 sq ft across all stores at 30 September
– Down 3% from 1,800,000 sq ft at the same time last year
– Down 3% from 1,807,000 sq ft occupied at 30 September 2008

  • this excludes revenue from the Leeds store which was transferred to Big Yellow Limited Partnership in November 2007.

Store update

During the period we opened two new stores, a 64,000 sq ft store in Sheen, which had been closed for comprehensive redevelopment, and a 60,000 sq ft store in Sheffield Hillsborough, trading within Big Yellow Limited Partnership (« the Partnership »). We now have 49 directly owned open stores with a total self storage capacity of 3.1 million sq ft. Our 70,000 sq ft store at Leeds, along with Sheffield Hillsborough, trade within the Partnership.

The number of stores open and sites in planning or under development (including 13 to trade in the Partnership) now total 71. Of the 20 sites in the development pipeline, 14 have planning permission, with a further two applications submitted, of which one is at appeal. 11 of these sites under development will trade in the Partnership, of which eight currently have planning consents.

James Gibson, Chief Executive Officer, commented:

« Trading conditions continued to be tough in what has been traditionally our weakest quarter to the end of December. We have no doubt that the cyclical environment for consumer facing businesses will continue to be difficult for the foreseeable future, but we look forward to our seasonally more buoyant spring and summer period. »

Parrédaction Publié Oct 10, 2008

Conférence du self stockage le 18 & 19 novembre 2008

La Conférence de l’Associación Española du self stockage se tiendra du 18 & 19 novembre 2008 à Valence ( Espagne) à l’Hotel Abba Acteón, Vicente Beltrán Grimal, 2 Valencia.

Pour tous renseignements contacter: AESS – Associación Española de Self Storage
T 663 708 993,,

Parrédaction Publié Juil 25, 2008

Conférence du self stockage le 18 & 19 novembre 2008

Pour tous renseignements contacter: AESS – Associación Española de Self Storage
T 663 708 993,,

La Conférence de l’Associación Española du self stockage se tiendra du 18 & 19 novembre 2008 à Valence ( Espagne) à l’Hotel Abba Acteón, Vicente Beltrán Grimal, 2 Valencia.

Parrédaction Publié Avr 1, 2008

Shurgard change d’actionnaire principal

Public Storage Completes Transfer of 51% Interest in European Operations to the New York Common Retirement Fund GLENDALE, California–Public Storage announced the acquisition by the New York Common

Retirement Fund (NYCRF) of a 51% interest in Public Storage’s Shurgard Europe operations for approximately €383.2 million ($606 million), plus an adjustment for operating results of Shurgard Europe from December 31, 2007 through March 31, 2008. Public Storage will own the remaining 49% interest and be the managing member of the newly formed joint venture that will own Shurgard Europe’s operations.

The existing Shurgard Europe management team will continue operations in Brussels, Belgium. The new joint venture includes Shurgard’s 20% equity interest in two existing ventures which are the subject of previously disclosed arbitration. If the remaining interests in those ventures can be acquired, they may be incorporated into the newly-formed entity. In connection with the transaction, the intercompany debt owed by Shurgard Europe to Public Storage was modified to (i) fix the interest rate at 7.5% per year, (ii) adjust the outstanding balance from approximately €381 million at December 31, 2007 to €391 million ($620 million) as of March 31, 2008, and (iii) modify the term of the loans to one year with an additional one year extension. In addition, Public Storage is committed to provide additional loans to Shurgard Europe, under these terms, up to €305 million to fund Shurgard Europe’s obligations to repay existing third-party indebtedness owed by the two previously mentioned ventures (a total of €256 million at December 31, 2007) and the possible acquisition of the remaining interest in those two ventures.

Shurgard Europe intends to repay all of its intercompany debt to Public Storage through the issuance of third-party debt as soon as market conditions permit, but no later than March 31, 2010. Shurgard Europe also entered into a licensing agreement with Public Storage effective January 1, 2008, under which it will pay Public Storage a fee equal to 1.0% of its pro rata share of revenues in exchange for the rights to use the “Shurgard Europe” trade name. Public Storage expects to record a gain from the sale; however, the timing and amount have not yet been determined. In addition, any increase or decrease in the U.S. dollar versus the Euro is expected to be recorded as a currency gain or loss on the loan to Shurgard Europe. Shurgard Europe’s operating results for the year ended December 31, 2007 included approximately $194.3 million and $92.2 million, respectively, of revenues and cost of operations related to the self-storage facilities; and $17.6 million and $5.2 million, respectively, of ancillary revenues and cost of operations. Included in these amounts are approximately $57.0 million and $37.3 million, respectively, of self-storage revenues and cost of operations, and $6.1 million and $1.8 million, respectively, in ancillary revenues and cost of operations, relating to self-storage facilities owned by the JVs in which Shurgard Europe has a 20% interest. These amounts were based upon the weighted average exchange rate of the dollar relative to the Euro of approximately 1.3698 to 1.000.

Parrédaction Publié Jan 28, 2008

Le salon 2008 du self-stockage

Cette année le salon du self stockage se tiendra à Rome du 7 au 9 mai.

Parrédaction Publié Jan 18, 2008

Public Storage veut vendre ses parts de Shurgard Europe

Public Storage, owner and operator of self-storage facilities, said on Wednesday it reached a preliminary agreement to sell a 51 percent stake in its Shurgard Europe unit in a private transaction.

It did not identify the buyer. The undisclosed sale price is consistent with the previously disclosed proceeds Public Storage expected to receive from a European share offering last year that was later canceled, the company said.

No binding agreement has been signed with the prospective buyer, and the deal may still fall through, the company said. If a final agreement is reached, Public Storage sees the deal completed by the end of the first quarter.

Parrédaction Publié Déc 25, 2007

Safestore rentre en bourse

Safestore announces that the offer price for its initial public offering (the « Global Offer ») has been set at 240 pence per ordinary share, implying a market capitalisation of approximately £449 million and an enterprise value of £661 million.

Safestore is the largest self storage provider in the UK and the central Paris region and the second largest in the EU, in terms of number of stores, providing individual, secure self storage space and related services.

The Global Offer comprises 72,373,192 existing ordinary shares and 14,583,333 new ordinary shares (excluding any exercise of the over-allotment arrangement), which represents in aggregate approximately 46.5% of the Company’s issued ordinary share capital and a total offer size of £208.7 million. The gross proceeds of the Global Offer to be received by Safestore from the issue of new ordinary shares are approximately £35 million.

Citigroup Global Markets U.K. Equity Limited and Merrill Lynch International, who are Joint Global Co-ordinators and Joint Bookrunners to Safestore, have been granted an over-allotment option allowing them to purchase or procure purchasers for additional ordinary shares of up to a maxiumum of 13,043,480 existing ordinary shares, representing 15% of the Shares in the Global Offer.

Conditional dealings are expected to commence on the London Stock Exchange at 8.00am today under the ticker symbol SAFE. Admission to the Official List of the Financial Services Authority and commencement of unconditional dealings is expected to take place at 08.00 UK time on 14 March 2007.

Steve Williams, Chief Executive of Safestore, said:
« We have had an excellent response to the Offer and are delighted by the number of well known institutions who have joined our shareholder register. New shareholders will participate in the next stage of Safestore’s growth, as we add to the existing 4 million sq ft of space across our 99 stores primarily through new store openings and continue to benefit from the rapidly expanding self storage market both in the UK and the EU. We look forward to developing Safestore as a public company. »

Summary of the Offer

Offer Price 240p
Number of Ordinary Shares in the Global Offer
Issued by the Company 14,583,333
Sold by selling shareholders 72,373,192
Number of existing shares subject to the over-allotment option 13,043,480
Gross proceeds receivable by the Company £35 million
Market Capitalisation £449 million

  • The management has retained a significant shareholding in Safestore representing approximately 10.5 per cent of the Company following Admission and have undertaken (subject to certain exceptions) not to sell their remaining holdings for at least 365 days.
  • Immediately following Admission (assuming no exercise of the over-allotment option), Bridgepoint will own a material shareholding in Safestore of approximately 41.3 per cent. of Safestore’s issued share capital. If the over-allotment option is exercised in full, this shareholding will be approximately 34.6 per cent. Bridgepoint has undertaken not to sell any of its remaining shareholding for at least 180 days.
  • Citigroup Global Markets U.K. Equity Limited and Merrill Lynch International are Joint Global Co-ordinators and Joint Bookrunners for the Global Offer.
  • Citigroup Global Markets Limited is the sole sponsor.
Parrédaction Publié Déc 25, 2007

Shurgard Self Storage Europe va rentrer en bourse

Shurgard Self Storage Europe Limited, promoteur et exploitant de centres de self stockage en Europe, a confirmé son intention de rejoindre l’Eurolist d’Euronext Bruxelles. Le montant de l’opération n’est pas encore connu mais il dépassera en tous les cas les 200 millions d’euros, puisque ce montant sera utilisé par Shurgard « pour payer les frais liés à l’offre, rembourser la dette actuelle de Public Storage, la société-mère de Shurgard, et payer les frais de financement, financer ses coûts de développement pour 2007 et pour les besoins généraux de l’entreprise ».

Shurgard Self Storage entend lever des fonds uniquement par l’émission d’actions nouvelles. Une partie des fonds levés sera utilisée en vue de la réduction de la participation actuelle de Public Storage dans la société.

« Le prospectus est actuellement en cours d’examen par la CBFA. Nous espérons une première cotation avant l’été », a commenté Jean Kruesch, le directeur financier de la société.

L’offre qui est menée par Merrill Lynch, Morgan Stanley, Credit Suisse ainsi que par Fortis et KBC Securities en tant que co-managers sera destinée tant aux investisseurs institutionnels en Belgique et en-dehors de la Belgique ainsi qu’aux investisseurs particuliers uniquement en Belgique.

Pionnier du self stockage en Europe, Shurgard propose à quelques 87.000 consommateurs, 812.000 m² d’espaces à louer.

En 2006, Shurgard a enregistré une augmentation de ses revenus nets à 129,9 millions d’euros par rapport à 100,7 millions d’euros en 2005, une augmentation de son bénéfice net d’exploitation à 56,4 millions d’euros par rapport à 33,3 millions d’euros en 2005, et une perte nette de 3,3 millions d’euros par rapport à une perte nette de 30,9 millions d’euros en 2005.

Pour les trois premiers mois de l’exercice en cours, les revenus nets totaux ont augmenté à 36 millions d’euros, par rapport à 29,3 millions d’euros pour les trois mois clôturés le 31 mars 2006 et le BNE a augmenté à 17,1 millions d’euros, par rapport à 10,8 millions d’euros pour les trois mois clôturés le 31 mars 2006.

Shurgard a enregistré une perte nette de 10,7 millions d’euros (reflétant des frais exceptionnels de 10,7 millions d’euros provenant de la restructuration de la dette) pour les trois mois clôturés le 31 mars 2007, par rapport à une perte nette de 2,7 millions d’euros (reflétant des frais exceptionnels de 0,7 million d’euros pour des ajustements fiscaux) pour les trois mois clôturés le 31 mars 2006.

En plus de ses 167 sites (chiffre qui inclut 65 sites actuellement détenus par des joint ventures), Shurgard détient 16 sites dans cinq marchés existants parmi ses projets de développement. Sept de ces sites sont déjà en construction, deux d’entre eux se sont vus octroyés un permis de construire et sept autres attendent l’obtention d’un permis de construire et sont dans les stades finaux du processus de contrat.

Ni le timing de l’opération, ni la fourchette de souscription n’ont encore à été annoncés.

Parrédaction Publié Nov 28, 2007

Big Yellow Forms £150M With Pramerica to Develop U.K. Self-Storage

U.K. self-storage operator Big Yellow has struck a £150 million ($308.4 million) joint venture with Pramerica Real Estate, the property investment and advisory arm of Prudential Financial Inc., to develop up to 25 storage facilities in the English Midlands, North England and Scotland. The deal is set to seal on Nov. 30.

Big Yellow and Pramerica are investing up to £25 million and £50 million respectively in the partnership. All further investments by the companies in the endeavor will carry this 1:2 ratio. They have also secured a five-year, non-recourse loan of £75 million from the Royal Bank of Scotland PLC to provide investment and development funding.

As part of the deal, Big Yellow will sell five of its existing development sites and an existing facility in Leeds for a consideration of £20.3 million. The initial proceeds from the sale will be used to further the company’s expansion in South England and finance its contributions to the partnership. The company has also entered conditional contracts to sell two of its development sites in Birmingham and Manchester. In addition, it will provide development and operational management services on the partnership’s sites in exchange for certain acquisition, planning, construction-management and operating fees.

Pramerica offers investment opportunities and management services in Asia, Europe, Latin America and the United States. As of June 30, the company managed $39.6 billion in gross assets on behalf of more than 300 clients worldwide. For more information, visit

Big Yellow was founded in 1998 by Nicholas Vetch, Philip Burks and James Gibson and listed on AIM in May 2000, moving to the Official List of the London Stock Exchange in 2002. It operates 45 self-storage facilities, with an additional 27 sites in development. For more information, visit