UK Self-Storage Operator My Lockup Plans Property Expansions Following Funding

My Lockup, which operates 14 self-storage facilities in the United Kingdom, plans to expand several of its properties after securing funding from HSBC UK Bank, a multinational banking and financial services organization. The deal was made through the bank’s newly launched commercial-broker program, according to the source.

My Lockup will increase the rentable space at 11 sites in Lincolnshire, North East and Yorkshire, England. “The expansion of our storage sites is an important milestone for the business. The funding will allow us to continue providing the best prices, security and service to our growing customer base,” said Kevin Doyle, managing director of My Lockup.

“It’s fantastic to support My Lockup in its next stage of growth and to see its operations continue to expand,” said Jennifer Lavers, relationship manager at HSBC UK. “The UK self-storage industry has experienced exceptional growth over the past few years following the rise of hybrid work models and businesses needing to acquire more space. This investment will undoubtedly have a positive impact on the business while creating more self-storage provision across the North of England.”

Founded in 2008, My Lockup provides storage to more than 2,000 customers in Lincolnshire North East and Yorkshire.

Source: The Business Desk, Storage Company Makes Space for Growth With Seven-Figure Funding Deal