Self-storage site sells in multimillion-pound deal

A self-storage site in Aintree, North Liverpool, has been sold, with freehold, to Armadillo Self Storage in a multimillion-pound acquisition.

Rent A Space (Self-Storage) is situated on Dunnings Bridge Road, which is a gateway route into the city.

It complements the existing Armadillo portfolio in the city of Liverpool.

Armadillo Self Storage, part of the Surrey-based Big Yellow Group, now has 25 stores around the UK.

The mature asset, with more than 85% occupancy levels, was developed by Kevin Murphy and Andrew Donaldson in 2015 as their first store in the Rent A Space portfolio and reached maturity just over three years from opening.

Kevin Murphy said: “As a Liverpudlian I’m very proud to have developed such a quality freehold asset, from scratch over the last four years, in my home city and I have no doubt the store will be an excellent addition to the Armadillo portfolio.”

Ollie Saunders, of JLL, who advised the vendor, said: “We are seeing an increasing rate of consolidation in the UK self-storage market, as portfolio owners see the benefit of acquiring good quality income producing stores such as Rent A Space in Liverpool.

“This store had the fundamentals right – a prominent site, a strong location and an entrepreneurial operator who was able to reach maturity in line with their business plan.”