Kangaroo Self Storage has purchased a large former retail warehouse on M Park Alexandra retail park in Grimsby from M Core for an undisclosed price.
The retail warehouse, which was previously occupied by Wickes, already has B8 consent, enabling Kangaroo to operate it as self-storage with immediate effect.
The warehouse will offer a net floor space of 80,000 sq ft across three levels and when fully fitted, the Grimsby site will be one of the storage company’s largest stores.
Gareth Dougherty, acquisitions manager at Kangaroo Self Storage, said: “M Park Alexandra is the perfect location for trialing our new retail park presence. It’s a very visible and convenient site with easy access and ample parking. As the need for storage becomes more lifestyle-driven, a site like this supports our ambition to bring storage directly to our customer base. We are delighted that M Park Alexandra landlords have been flexible and forward thinking – considering the current and future uses of sites like this.”
Chris Stevens, CEO of Kangaroo Self Storage, added: “Strategically, we see this as a significant transaction in the future repurposing of retail into other use classes. We expect to do more transactions like this as Kangaroo continues to expand its presence in the UK.”
George Kearney, senior asset manager at LCP, which is part of M Core, said; “We are thrilled to support Kangaroo Self Storage in developing their retail park presence at M Park Alexandra. With its prime location and excellent infrastructure, this site is perfectly positioned to serve the Grimsby community’s growing need for flexible and accessible storage solutions.”
The vendor was advised by Edgeley Simpson Howe and Osborne Clarke and Kangaroo Self Storage was advised by MBM Commercial, Temple Bright and JLL.
