Fast-growing national self-storage operator StoreAway has opened an outlet in a former landmark furniture showroom in Bath after securing a £5.2m in investment.
The 27,000 sq ft Depository building, pictured, on York Place, London Road, houses 245 lockers across two floors.
The high-profile building, which dates from the early 20th century, was originally a storage facility for house valuers, auctioneers, removals and contractors Fortt, Hatt and Billings.
It was later converted into a showroom and, over the years, has been home to several furniture retailers.
It is the fourth site to be opened by StoreAway in just over four months since it launched its flagship outlet in Liverpool.
It also has sites in Birmingham and Cheltenham and is soon to open in Swindon and Basildon.
Earlier this year the firm announced a finance deal with investors Redevco, Legal & General and Nash Business Capital to fund its ambitious growth, with a target of a further 20 stores over the coming years by turning more than 250,000 sq ft of redundant retail space – such as The Depository – across the country’s high streets into convenient storage space.
StoreAway managing director Richard Lanyon, who has more than 30 years’ experience as a chartered surveyor with a UK property investment focus, said: “As StoreAway’s fourth opening, the Bath site is in a prime spot that is enriched in heritage and close to many residential areas.
“It’s also on a busy street where businesses trade, with the added benefit of goods access and loading bays, as well as a functional goods lift.
“We have secured investment from Nash Business Capital to make this happen and despite being in the early stages of our business growth, we are embracing the challenges that come with transforming redundant retail space.
“We have ambitious plans to expand our nationwide portfolio over the next three years with a clear view of creating a stand-out brand within towns and cities across the UK.”
StoreAway co-founder Christian Yates added: “StoreAway is the first concept of its kind to be found in urban settings across the UK.
“We offer our customers a diverse way of storing their possessions, whether they’re moving home and need somewhere to store their furniture, a business needing some extra space for paperwork or stock, or a student looking for somewhere to store their belongings while they’re travelling for summer. There’s something for everyone in every walk of life.
“This concept is perfect for those seeking flexibility because our lease options give people control of their storage and it allows them to find what works best for them.
“Ultimately giving them control over their own time, space and routine, all while being on their doorstep.”
StoreAway users can control their storage needs via a smartphone app, through which they are able to book space and arrange a drop-in time to visit their designated locker. The process allows shared access with friends and family to offer a completely tailored approach.
Supporting the launch and operations of each site is leading independent storage consultancy Engage, led by Anthony Adams and Mark Van Adrichem, who have built a respected reputation amongst the storage community over the past decade.
The Depository was put on the market with a price tag in excess of £2.75m just under a year ago by national property agency Carter Jonas on behalf of private clients.
