Singapore Self-Storage Operator Lock+Store to Offer Postal Services

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Singapore Post Ltd. (SingPost), the national postal-service provider in Singapore, will offer postal-delivery services at all three of its Lock+Store self-storage locations. They will be the first self-storage facilities in the country to offer postal services, according to the source.

SingPost purchased General Storage Co., including the Lock+Store self-storage brand, from Asia Pacific Storage Co. last year for approximately $29.3 million. When it made the acquisition, SingPost was already operating one Self Storage Solutions (S3) facility through a property that serves as one of the company’s regional delivery bases.

SingPost described S3 as “a one-stop suite of integrated services spanning warehousing, fulfillment, delivery and distribution.” It rebranded S3 as Lock+Store and indicated it would integrate the self-storage operation into its core business by adding package delivery and other value-added services.

All three storage locations will now sell postage and postal stationery and offer services such as package collection and delivery. The expansion will cater to business customers, who currently comprise about 30 percent of the Lock+Store tenant base, according to Helen Ng, CEO.

Sources:

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