U.K. self-storage and removals specialist Dainton Group Services recently purchased the Drake Mill Business Park in Plymouth, England, for £1.8 million. The company will invest another £750,000 to convert an existing 30,000-square-foot warehouse on the property to self-storage.
The business park, formerly a part of the London & Westcountry Estates, currently houses 12 local businesses including a play center, beauty salon and construction company. It also has two vacant offices, a showroom and warehouse space, which the company plans to lease, according to the source.
Dainton previously developed five of its self-storage sites into business parks, providing office and warehouse space to small-business tenants, many of which also use storage as a distribution point. Additional development plans include a £258,000 site in Bridgend, expected to open in June, and another facility in Bristol, which will open next year. The company paid £1 million for the Bristol site.
Based in Newton Abby, England, and established by Paul Maddicott in 2002, Dainton operates eight self-storage facilities across Devon and Cornwall from its headquarters on the Heathfield Industrial Estate. It has a staff of 35 and a customer base of about 3,500, according to the source. The group also includes Dainton Removals and Dainton Portable Buildings.