£4m commercial mortgage unlocks expansion for self-storage group

February 26, 2016
By

Storagebase, the Frome-headquartered provider of self-storage units and removal services, has opened its latest site in its home town with the support of a £4m commercial mortgage from HSBC.

The firm operates sites in nearly 70 towns in an area stretching from Somerset to Buckinghamshire and Staffordshire and has ambitious plans to open more.

Its latest site, pictured, which means it can now offer 1,200 rooms of differing sizes in Frome accessible seven days a week, has created six jobs.

The privately owned firm was launched in 2002 by a group of directors who had already operated self-storage businesses in the UK and Europe for the previous seven years. They spotted a gap in the market for flexible, secure and all-inclusive storage space.

Managing director Ben Morris said: “We’re really excited to have opened this new site in Frome and have already welcomed 200 new customers through the door, highlighting a real need for our offering in the region.

“Working with HSBC has been a breath of fresh air and not what you’d expect from a big corporate bank. They’ve offered pragmatic solutions based on our individual needs, which are fairly niche here in the South West.”

HSBC area director for the Avon, Gloucestershire and Wiltshire region, James Shepherd, added: “HSBC is committed to helping businesses realise their ambitions so we’re incredibly pleased to see this new site in Frome already flourishing.

“This is the third commercial mortgage we’ve helped Storagebase with to date and we look forward to supporting them with future ventures.”

 

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