Rent A Space, an England-based self-storage operator that specializes in leasing flexible workspace and office space, is investing £250,000 to add 25,000 square feet of rentable space to its facility in Netherton, England. The mezzanine addition will bring the property’s square footage to 75,000 square feet, according to a source.
Business partners Andrew Donaldson and Kevin Murphy believe the expansion will draw a variety of new tenants and help spur employment opportunities in the area. At its current size, the facility has played a role in generating 100 jobs since opening two years ago, a source reported.
Prior to launching Rent A Space, Donaldson and Murphy were directors with Big Storage Ltd., which built a portfolio of five self-storage facilities before selling to competitor Big Yellow Group PLC in January 2015.
“With 17 years of experience in the self-storage sector, I had firsthand experience of where the market trends were heading, and I feel that being Rent A Space rather than ‘X Storage,’ we can capitalize on the growing demand for flexible workspace while also offering a modern version of our core business—self-storage," Murphy told a source.
Founded in September 2015, Rent A Space operates self-storage facilities in Netherton and Shrewsbury, England. The company plans to open a third location in Northwest England next year.