Stellar Asset Invests in U.K. Self-Storage
Copyright 2014 by Virgo Publishing.
By:
Posted on: 02/06/2009



 

Stellar Asset Management launched a fund that seeks a minimum annual income of 6 percent by investing in self-storage space facilities in the Midlands and Northwest England.

The Stellar Income Fund is seeking to raise £1m to fund its first investment, with the maximum funds set at £10m. The fund will employ no gearing and is available to investors in tranches of £10,000. According to the group, the fund will acquire facilities that are trading. It will exploit opportunities from overleveraged operators and banks looking to restructure because of market conditions.

The first facility to be acquired is in Newcastle-under-Lyme, Staffordshire. The facility has traded for three years and generates the target yield of 6 percent.

Source:  Fund Strategy,  Stellar Looks to Self-Storage for Income