Expansion as storage firm acquires new site

News Posted 11/01/18
Storage provider CityStore Self-Storage is set for expansion this year with the opening of a brand new store in Aylesbury.

Supported by funding from Allied Irish Bank (GB), the new 50,000 sq ft self-storage centre in Smeaton Close in Brunel Park will open formally in April 2018, providing new storage facilities for individuals and businesses across the local area.

Allied Irish Bank (GB) has structured an undisclosed funding package to support the acquisition and fit out costs of the building.

Founded in 2008 by Managing Director Rod Edge, CityStore Self-Storage specialises in providing not only commercial self-storage and document archiving but also domestic storage solutions for households and students. The company opened its first store in Camden, London in July 2009 and has since expanded opening a further outlet in Dunstable in May 2013. The opening of the new Aylesbury store is part of CityStore Self-Storage’s ongoing growth strategy and will be the firm’s third outlet in the UK. CityStore Self-Storage currently employs 12 staff but has opportunities for new staff keen to join an expanding business.

Rod Edge, managing director of CityStore Self Storage said: “We are very excited about the opening of our third store. We are focussed on developing a strong, successful business and this latest expansion marks the next key stage in our growth plan. Aylesbury is a dynamic town with a growing population with good communications not just to London and the South East but also to the Midlands and further North. We are now fitting-out the building and already taking enquiries for the first storage units which are becoming available imminently.

“The support provided by the Allied Irish Bank (GB) has been excellent and I couldn’t be happier with the service we have received. The team has been very efficient and their support helped us to ensure a successful acquisition of the premises, enabling us to put our growth plans into practice.”

Emma Lane business centre leader of the South East region for Allied Irish Bank (GB) said: “I am really pleased that we have been able to support CityStore Self-Storage to achieve their growth objectives and provide funding for the new store. The site that they have acquired in Aylesbury is ideal for the business and we look forward to seeing the building once the fit out works have completed. Rod and his team have developed a solid, excellent operation and we are excited about continuing to work with them in the future, supporting ongoing growth.”

Advisers working on the deal include:

  • Funding: Emma Lane at Allied Irish Bank (GB)
  • Jeffreys Henry LLP, Chartered Accountants, London
  • Machins Solicitors LLP, Luton
  • Batchelors Solicitors, London

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