The Ardent Companies (Ardent) has launched a new vertically-integrated UK self-storage platform.
The Place 4 Self Storage platform has been seeded with three assets in Petersfield, Alton and Swindon. The Petersfield facility is already operating at 40% occupancy, with all three sites trading ahead of their business plan forecasts.
The platform has a pipeline of several locations in due diligence, with additional assets identified to bring the platform to its targeted size of circa 15 to 20 sites. New locations will be focused on prime southern market towns with facilities from 25,000 sq ft upwards. Each asset will also include incubator office space where appropriate.
The Place 4 Self Storage team is led by Jonathan Meier, who has extensive expertise in the self-storage sector including holding senior positions at ABC Self Store, The Storage Depot and Access Self Storage.
Matt Shulman, CEO of Ardent, said: “The launch of The Place 4 Self Storage reflects our confidence in the long-term fundamentals of the UK self-storage sector and our ability to identify scalable opportunities in fragmented markets. By combining disciplined real estate investment with a strong operational platform, we are well-positioned to build a meaningful portfolio in high quality markets.”
Andrew Hilston, managing director at Ardent, added: “Self-storage is a market we have been actively exploring for some time given our track record in the US, and to see our work bear fruit with the launch and above target trading of The Place 4 Self Storage is hugely satisfying. There remains significant potential in this sector, particularly in the niche we are targeting, and we look forward to the swift and successful expansion of this platform.”
Meier said: “The Place 4 Self Storage, with its lifestyle-centred brand and focus on customer experience, is designed to reach an under-served corner of the sector, and the success of this approach can be seen in the early trading well above our forecasts. With the next several sites already in various stages of due diligence, and a further pipeline of potential assets identified, we anticipate swift growth for the business towards our targeted size of circa 15 to 20 locations.”
