OrangeSpace Self-Storage has launched with two 8,000-square-meter facilities in Alfragide and Rio de Mouro, Portugal. The venture is a partnership between South Africa-based self-storage operator StoreSmart, which will manage the properties, and local entrepreneurs Allan Fisher and Hans Koster, who founded the health-club chain Holmes Place. It has received a multi-million-euro investment from international backers, according to a press release.
OrangeSpace intends to develop up to four locations in the Lisbon metropolitan area as well as add future sites in Algarve and Porto, according to Mike Sweidan, managing director. “We are thrilled to officially launch OrangeSpace in Portugal,” he said. “We worked closely with our local partners to carry out extensive due diligence before committing to the expansion. However, from the outset, Lisbon presented many key ingredients being densely populated with a growing profile and thriving startup business scene.”
Fisher and Koster launched Holmes Place 30 years ago as Portugal’s first premium health club and believe self-storage has a bright future in the region, the release stated. “OrangeSpace is not only bringing high-level international expertise to Lisbon, it is providing a much-needed service, which is in great demand,” Koster said. “The firm has created four full-time jobs along with dozens more construction, marketing, accounting and legal-services roles. We are pleased to have been of assistance by sharing our knowledge of the local market and look forward to supporting OrangeSpace’s broader growth plans as it prepares for nationwide expansion.”
OrangeSpace properties will feature monitored closed-circuit television and motion detectors. Tenants receive a complimentary, base tenant-insurance policy, with the option to increase coverage.
Founded in 2012, StoreSmart operates two self-storage facilities in Cape Town and Century City, South Africa.