Magenta Self Storage, which operates five facilities in England, views the opening of its £4 million facility in Banbury late last year as an investment into the city’s revitalization efforts. The five-story facility is near the M40 highway and comprises 40,000 square feet, according to the source.

“Investing in Banbury at this pivotal moment in its history is a sound business proposition,” Magenta Chairman Mark Shaw told the source. “Although plans for Banbury’s regeneration have been in the pipeline for some time, we are now really encouraged to see that they are moving forward with such momentum.”

Magenta’s presence has been embraced by the community, according to facility manager Helen Tooby. “This facility is so much more than a place to safeguard surplus belongings. It is, instead, a real hub of community activity,” she told the source. “Since opening, we have been privileged to work alongside organizations as diverse as Katherine House Hospice, Banbury Museum Trust, the 100 Coats homeless project, Care4Calais and Business Buzz.”

In addition to the recent Banbury opening, Magenta is pursuing two self-storage projects in London. It has secured funding for an underground facility on Errol Street and is seeking approvals for a development in West London, according to the source.

“Our expansion into Banbury is part of our strategy to double our current holding by 2022,” Shaw said. “It showcases our commitment to offer our customers the very best the industry has to offer, including around-the-clock security, 24/7 access and the latest technology. Our Banbury operation will act as the benchmark for future facilities, as we continue to expand throughout the Southeast.”

Magenta operates facilities in the Acton area of West London, Banbury, Nottingham, Oxford and St. Albans, England.

Source:
Banbury Guardian, Storage Firm Backing Banbury’s Regeneration With £4M Investment