Woodbourne Group Enters U.K. Self-Storage Industry, Announces Development Pipeline

Woodbourne Group, a Birmingham, England-based commercial investment and development firm, announced plans to enter the U.K. self-storage sector and develop a pipeline of new facilities. The company is starting with a £9m conversion of a former pipe-fitting factory in Dudley, England, according to the source.

The 1-acre site on Pedmore Road, Brierly Hill, contains a 31,750-square-foot structure that’ll be repurposed into 50,000 square feet of self-storage. Woodbourne will reclad the building, add a new roof and reconfigure the entrances.

“We are pleased to have secured planning permission for a premium self-storage facility in Brierley Hill, marking our entry into the self-storage sector,” said CEO Tani Dulay.

“The consented scheme provides an excellent opportunity to develop the property into a self-storage facility,” said Steffan Morgan, associate partner. “Conversion opportunities in prominent locations are highly sought after in the undersupplied self-storage market and help deliver much-needed volume.”

Real estate firm Cushman & Wakefield is acting as an investment advisor.

Founded in 2001, Woodbourne provides asset management and development for commercial real estate assets including mixed-use projects, science parks, schools and others.

Source: The Business Desk, Major Developer Enters Into Self-Storage Sector