Real Estate Developer and Investor WUKPG Enters UK Self-Storage Sector, Plans £150M Portfolio by 2030

Western UK Property Group (WUKPG), a developer and investor of commercial and residential real estate, is entering the U.K. self-storage sector through the development of three facilities in England. The properties will be managed by its new in-house brand, Shutter Store, according to a source.

“Shutter Store will focus on bringing people and local communities together through its onsite business hubs, [customized] app, and business support and network events, all included for tenants at our nationwide facilities,” said Oliver Lipson, managing director. “This is an evolving sector that we intend to disrupt to become a market leader with a target operational U.K. self-storage portfolio [gross development value] of £150 million by 2030.”

WUKPG submitted plans to develop a facility on a Lancaster site it acquired last year for £1.1 million. The building on New Quay Road will comprise 51,000 square feet in 475 drive-up units. Two developments in Horwich and Northwich are also planned, with each property containing a five-story, 900-unit building and a drive-thru cafe. C4 Architects is leading the design for all three projects. HK Planning is advising WUKPG and XO Square is the civil and structural engineer firm, the source reported.

All three facilities will incorporate technology including online rentals, smart-lock access systems, license-plate readers, surveillance cameras, electric-vehicle charging stations and rooftop solar panels, the source reported.

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“As institutional funds continue to diversify into operational real estate, they’re keen to invest in sustainable, efficient self-storage facilities as a sector with growing demand in the U.K. and USA,” Lipson said. “There’s been a boom in [small and medium-sized enterprises] businesses and the general domestic market that require additional, quality designed and built storage space.”

Manchester, England-based WUKPG specializes in acquiring value-added properties and developing brownfield land and vacant properties. The company has completed projects across the U.K. valued at more than £100 million. It operates an industrial and residential real estate portfolio valued at more than £50 million.

Source: Place North West, WUKPG Aims to Make a Splash in Growing Self-Storage Sector