In a strategic move to strengthen its UK presence, Padlock Partners UK Fund IV has confirmed the acquisition of a prime development property in Chippenham. The deal, sealed at £1,750,000, is a testament to the Trust’s commitment to expanding its footprint in the British real estate market.

The Chippenham site, currently housing a warehouse, is set for a transformative redevelopment. Plans are underway to demolish the existing edifice and erect a state-of-the-art 50,000 gross square foot storage facility. Upon completion, this facility will boast approximately 38,000 net rentable square feet of self-storage units, distributed across three spacious internal floors.

John Stevenson, CEO of Padlock Capital Partners, shared his optimism about the venture, remarking, “The Chippenham acquisition is a pivotal step in our ongoing UK expansion strategy. We’re keenly looking forward to serving the local community and businesses with top-tier storage solutions.”

This Chippenham acquisition marks the fourth UK property under the aegis of Padlock Partners UK Fund IV, joining their existing assets in Edmonton, Newbury, and Haverhill. With a clear roadmap in place, the Trust plans to channel the residual net proceeds from their initial public offering towards the acquisition of more self-storage properties across the UK. This aligns seamlessly with the Trust’s overarching investment goals, which pivot around offering stakeholders diverse opportunities in the UK’s income-producing commercial real estate sector, particularly in the realm of self-storage.