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[/symple_tab] [/symple_tabgroup] [symple_tabgroup] [symple_tab title=”Short Summary”]
With housing in short supply, a more transient population and more and more of us finding it difficult to organise and find space for our own personal possessions, Store First self storage offers the opportunity to rent a unit of space (a Storepod), chosen from various sizes, in a secure location, where the tenant is the only person to own the key.
Access into the storage unit can be made at any time, and the self storage facilities offer excellent access 7 days a week. The facilities are secure and friendly and sell other useful items such as boxes, tape and bubble wrap.
Storepods range in price from £3,750 for a 25 Sq/Ft Pod, up to to £22,500 for 150 Sq/ Ft. The most common sizes are 75 Sq/Ft which cost £11,250 and 100 Sq/Ft which cost £15,000. We believe Storepods are the most cost effective property investment with the highest yields on the market today. Multiple Storepods can be purchased using one Land Registry title deed, this saves on completion costs on larger property investment portfolios.
Your ROI is paid upfront annually. The responsibility of renting the Storepod lies solely with Store Fist and has no effect on your guaranteed annual return.[/symple_tab] [symple_tab title=”More Info”]
Storepod rental starts at £17 per Sq/Ft per annum (+ VAT). The 6 year tenancy/lease in place on your Storepod has fixed upwards only rental reviews and break clauses (for both parties) every 2 years. This produces an 8% yield on your investment within the first two years, this then is predicted to rise to over 10% return in years 3 & 4 and then surpass 12% return in years 5 & 6.
There are a number of differentiators in the market for end users that separate Store First from their competition:
- Store First offer their storage space at least 30% cheaper than their competitor
- All of the sites will have office facilities, leisure areas, packaging facilities and van hire, goods pickup service, forklift truck facility and reception areas
- Every site has 24 hour digital CCTV and a state of the art alarm system installed. Coded electric gates, perimeter security fencing, smoke detectors and fire alarms are fitted as standard to protect customer’s belongings
- Tenants have the use of a PO Box Address along with private meeting rooms, office space, free Wi-Fi, and in and outbound mail services
- Risk assessments are conducted in conjunction with the fire service and local authorities
- Store first have partnered with Sagar insurance to provide cover for tenants’ contents
- All Storepods are VAT exempt and so do not attract VAT on completion This amounts to a comprehensive service at a lower cost than their competitors which appeals to private individuals and small business.
The Investment Opportunity Investors purchase a long-leasehold (minimum 250 years) on a storage unit, then enter into a 6 year agreement to sub-let their Storepods to Store First Management Ltd. Store First Management Limited will then sublet the units, under license, to end users.
Summary terms of agreement:
- Store First pay investors a fixed rental return of 8% for the first two years
- After two years, and every subsequent two years, Store First offer investors a further two years at a fixed rate
- The new rate offered will be higher than the previous rate
Resale to another investor
A Storepod with a proven rental track record will be an attractive investment for other investors looking to purchase income .
Resale to Long Term Tenants
Many tenants who let the Storepods on long term deals will welcome the opportunity to purchase rather than rent their Storepod as this will reduce their overheads, secure an appreciating asset for their business and bring tax benefits.
Store First Management Ltd
In year 5, Investors have the option to enter the buy-back scheme. In this scheme, Store First Management Ltd will buy the Storepod back off the investor for the original price paid within the next 5 years.[/symple_tab] [/symple_tabgroup]