Martin’s Properties has acquired the freehold interest in the vacant 15,444 sq ft Nicholson House office building on Lime Kiln Close in Bristol from a UK fund for an undisclosed price.
The company intends to build a self-storage facility on the one-acre site.
Martin’s Properties is looking for a number of further one- to two-acre self-storage sites in the South and South West of England with key target locations including Bath, Dorchester, Southampton, Taunton, Aylesbury, Banbury, Trowbridge and Yeovil.
Graham Gunn, head of operations – self-storage at Martin’s Properties, said: “This is an exciting new acquisition of a prominent site in a mature and expanding location with excellent transport links and passing traffic, making it a highly strategic site to provide for self-storage demand. We already have other sites underway, with the first site in Didcot forecast to complete in 2026. We are seeking to acquire similar prominent one- to two-acre sites across the South and South West of England.”
Richard Bourne, CEO of Martin’s Properties, added: “This latest acquisition adds to our pipeline for the self-storage platform. We believe that we are creating an original and innovative portfolio of purpose-built, tech-driven, secure, easy-to-access, sustainable units which will offer the market something different in this fast growing sector.
“We look forward to sharing more on this in due course. As a fully owned subsidiary of Martin’s Properties, it demonstrates our ability to recognise new trends, shape new developments and deploy capital quickly for the right opportunities – leveraging our in-house investment, development, asset management, planning and operational expertise.”
Hartnell Taylor Cook acted for Martin’s Properties and Sayner Real Estate acted for the vendor.
