Wales-Based Storage Giant Buys 2 UK Facilities From The Space Place Self Storage

Wales-based self-storage operator Storage Giant has acquired the two-facility The Space Place Self Storage portfolio in England. Located in Leicester and Telford, the two facilities comprise a total of more than 54,000 square feet, with the capacity to expand to more than 72,000 square feet, according to the source.

Wales-based self-storage operator Storage Giant has acquired the two-facility The Space Place Self Storage portfolio in England. Located in Leicester and Telford, the two facilities comprise a total of more than 54,000 square feet, with the capacity to expand to more than 72,000 square feet, according to the source.

“Having built a strong platform of five stores along the [highway] M4 corridor, the acquisition of these two stores helps us to expand into new markets,” Simon Williams, owner of Storage Giant, told the source. “We continue to look for opportunities to acquire or develop new stores across the U.K.”

The transaction is a healthy sign for the United Kingdom’s self-storage industry, according to Tom Caines, a surveyor in the alternatives division of JLL, the real-estate services firm that brokered the sale. “Importantly, these sales emphasize the continued strength of the U.K. self storage market, with appetite from operators and investors for both leasehold and freehold-owned assets post Brexit.”

The acquisitions mark Storage Giant’s expansion into England. The company’s five previous self-storage facilities are in South Wales.

Sources:

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