UK Self-Storage Operator FI Real Estate Management Reveals Expansion Plans for Cuboid Brand

FI Real Estate Management (FIREM), which operates the Cuboid self-storage brand in the United Kingdom, is expanding its portfolio after acquiring 36 acres of land. It plans to add at least 5,500 storage containers over the next five years, projecting a portfolio value of $267 million. The first phase of the expansion involves opening three locations by the end of the year, according to a source.

Since its launch last year, Cuboid has opened 23 locations, offering more than 150,000 square feet of space across the U.K. It aims to become the region’s largest container-based self-storage provider, the source stated.

“Cuboid is a fantastic example of how the whole FIREM team has come together to deliver a vital product to the market, and we aren’t slowing down. We want to be the largest and most trusted container self-storage company in the U.K., and we have plenty of plans to further diversify our portfolio,” said Tim Knowles, founder and managing director. “We’ve put our all into setting the path for our future over the next five years, with continued growth. We've got the land ready and the ability to create space for at least a further 5,500 containers, so we’re set to overtake the rest of the container market and become the largest in the U.K.”

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Cuboid operates locations throughout England and Wales. Its 20-foot containers measure 1,200 cubic feet each and accommodate up to 240 medium-sized boxes.

Lancashire, England-based FIREM has 40 years of experience providing workspace, asset and property management, and developing projects in the industrial, office, retail and residential sectors.

Source: The Business Desk, Self-Storage Start-Up Unveils Major Expansion Plans to Become Biggest in UK