Funding package helps develop 45,000 sq ft storage centre
A storage company has expanded its UK operations with a new site in York, thanks to a seven-figure funding package from HSBC UK.
Go Store Self Storage used the funding package to support the build and fit-out of a 45,000 sq ft storage centre at Monks Cross, York. The site includes 950 storage rooms with 35 different sizes available to suit customers’ needs.
An additional £150,000 was also provided by the bank to support the company’s ongoing working capital requirements following an extended period of growth.
The business has seen demand rise over the last 12 months due to conditions in the UK housing market, as well as changes to workplace habits.
Over the course of the pandemic, many businesses used Go Store Self Storage to store office furniture as workforces shifted to at home working.
Rory Windham, managing director the company, said: “The pandemic changed the way people work. Alongside a booming property market, this has created a surge in demand for additional storage and a unique opportunity for the growth of our business.
“For example, with many retail businesses forgoing their high street spaces, online only companies have used our facilities to enable remote deliveries and generate rapid growth.
“With the support of HSBC UK, we’re delighted to be able to meet this demand with our new York site.”
Nigel Kerr, relationship director at HSBC UK, said: “Go Store Self Storage has seen incredible growth over the past few years by catering for the needs of sole traders as well as larger business and private clients, such as students and house movers.
“This new expansion will allow the business to meet the changing needs of their customers in and around York as Go Store expands.”