Seven-figure package enables storage company to expand with Bolton acquisition
HSBC Bank has provided a seven-figure funding package for a Manchester-based storage company to increase its capacity in the North West.
Store Box Self Storage has used the finance to acquire Outer Space Storage Centre in Farnworth, Bolton.
The acquisition is the most substantial purchase the company has made to date and will see the business operate a hybrid space, offering both indoor and outdoor storage solutions for the first time.
Store Box Self Storage anticipates a growth in its customer base as a result of the purchase of the 38,000 sq ft storage space and a 13% increase in turnover over the next 12 months.
Piers Hunter, finance director at Store Box Self Storage, said: “We are thrilled to have acquired the Outer Space Storage Centre in Farnworth and see this as an important step for the growth for our business.
“The diverse nature of this facility will help us to provide customers in the North with more effective storage space and options. We’re excited to welcome customers old and new over the coming months.”
Jenny Taylor, relationship manager at HSBC UK, said: “It’s fantastic to support the expansion of Store Box Self Storage in the North West and provide valuable services for customers. The purchase of this hybrid premises will set the company apart from others in the market and we look forward to seeing the growth this promotes.”
Founded in 2009, Store Box Self Storage provides secure and affordable storage solutions for customers across the UK and Ireland. The company is currently focusing on expansion across the UK.