Space Station Self Storage, which operates 13 facilities in the United Kingdom, is expanding its footprint following a £50 million investment from global real estate investment firm Heitman. The company is opening three facilities next year and has recently added a new management contract, according to the source.

The new locations will be in Birmingham, England, specifically Castle Bromwich, Hall Green and Stirchley. Space Station aims to become significant operator within the sector over the next five years, the source reported.

In addition, the company is managing Fort Locks in Banbury, England. Owned by Annie and Nick Poole since 2004, the facility will be rebranded under the Space Station name. It comprises 18,600 square feet in 214 units.

“We have seen significant positive growth over the past couple of years in terms of personal and business storage, with many people looking to make more room in their homes and businesses,” said Kevin Prince, CEO of Space Station. “It is an exciting time for us, and we have big plans for the future, with already three confirmed new locations across the U.K. in 2023.”

Space Station was acquired by Heitman in October 2020 and expects to receive more funding from its parent company in the next five years., the source reported. Founded in 1983 by Alastair Caldwell, the company operates facilities across Birmingham, London, Midlands and Thames Valley. It also provides free moving services for new tenants.

Founded in 1966, Heitman has 10 offices worldwide and more than $52 billion in properties under management, according to its website.

Source: Business Matters, Growing Self-Storage Company Invests £50 Million Into Expansion Program