Storage King North Lakes Building A is open for trading from 8 February 2020.

Building B and the outdoor storage offerring at the northern end of the site is scheduled to open in March 2020.

On 19 November 2019, our partner in the Armadillo joint venture, Big Yellow Group (BYG), released its results for the 6 months ending 30 September 2019.

Key highlights for the Armadillo portfolio include:

•  Occupancy at 30 September 2019 was 78.7%, up from 76.7% at 30 September 2018 (pcp);

•  Average annual rent per a sq ft at 30 September 2018 was £17.30, up from £17.26 at pcp; and

•  The assessed aggregate value of the Armadillo centres, based on directors valuations, is approx. £114 m at 30 September 2019.

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USS2 has declared and paid its interim distribution in respect of the financial year ending 30 June 2020.

The result was a distribution of  5.63p per unit, up 16% on the FY19 interim distribution.

Details are available in the USS2 Trading Update that has been distributed to Unitholders via the Investor Portal of the USSFM Website.