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Self storage sites continue to grow

The self-storage sector will continue to eat into the supply of potential urban warehousing sites, new deals suggest.

Legal & General’s property investment arm LGIM Real Assets has acquired two more units totalling 92,000 sq ft. The floorspace is in Bury and Lichfield.

The growth is largely in modern purposes built units Analysis shows  that whilst there are now approximately 1,900 self storage sites in the UK , only 35% of these are purpose built - representing a significant opportunity for investors.

LGIM has rapidly grown its self-store portfolio to 365,000 sq. ft. and plans another 270,000 sq ft by 2022 as part of the Surestore brand.

JLL brokered the sales in Bury and Lichfield, taking the total assets within the Surestore pipeline sold to six.

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