UK self storage investment fund USS1 has declared a final distribution of 5.5 pence per unit for FY19 – with total distributions per unit for FY19 up 19% on FY18. The Armadillo 1 Portfolio traded strongly in FY19 with total revenue increasing 12% on FY18. The Armadillo1 portfolio has grown to 17 centres, following the acquisition of an existing self storage centre in Grimsby in April 2019. A trading update has been provided to USS1 Investors via the Investor Portal.

At a meeting of USS1 Unitholders held on 15 March 2019, Unitholders voted unanimously, based on proxies received, to extend the investment term of USS1 to 30 June 2020.

Jones Lang Lasalle (JLL) has released its latest UK self storage market update for 2019.

Highlights include:

• Self storage was one of the best performing property asset classes in the listed UK REIT market over the last 12 months. USS’s partner, Big Yellow Group produced positive total investor returns, compared to the All UK REIT sector return which fell by 16.5%;
• Investor interest in UK self storage continues to grow with a substantial increase in allocations amongst the Alternative Asset investors surveyed by JLL; and
• Armadillo’s acquisition of the 1st Storage Centres in Newcastle and Gateshead features in the M&A section of the report.

The report is accessible via the following link.