The ASS Portfolio finished the 2021 UK financial year (FY21) with record occupancy levels.Total occupancy was 84% at year end, up 110,000 sq.ft. on March 2020 levels.Total Revenue and Store EBITDA for FY21 finished 8% and 10% respectively above FY20 levels. 




ABACUS 1HFY21 RESULTS resizeimage 1

On 18 February 2020, Abacus released its first half trading results for the period 1 July 2020 to 31 December 2020 (1HFY21).

The performance of the self storage portfolio headlined the results, outperforming office and other non-core asset classes. 

Highlights of the 1HFY21 results for the self storage portfolio included:

  • Valuation uplift of 8.4% in comparison to 1HFY20
  • Capitalisation rate compression of 50 basis points against 1HFY20
  • Net property rental income growth of 29%
  • Acquisition of the remaining 75% interest in the Storage King operating platform 

Click here to see the full update.







Armadillo Self Storage – February Trading Update resizeimage 1

The strong trading performance of the ASS Portfolio throughout FY21 continued in February, with results well above February 2020 levels (the prior corresponding month (pcm)). 

Trading highlights for ASS in February 2021 included:

  • Continued uplift in the net rental rate, average net rental rate across the portfolio is now £18.35 per sq.ft. (up £0.19 per sq.ft. from January and £0.52 per sq.ft against the pcm)
  • Occupancy levels held firm from January (up 1,500 sqft from January and up 80,000 sqft on pre-COVID levels against the pcm)
  • Total revenue (10%) and store EBITDA (21%) higher than the pcm, as a result of higher rental rates and occupancy being achieved across the ASS Portfolio
  • Addition of 6,625 sq.ft. of self storage capacity in Grimsby
  • Continued demand for self storage, with enquires and reservation numbers up 19% and 3% respectively against the pcm.


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