Kangaroo Self Storage builds its presence in the North East of England with the announcement of a new site in Grimsby.
The self-storage company has purchased a large former retail warehouse on M Park Alexandra, the most central retail park in Grimsby. Earlier this year Kangaroo announced the acquisition of a site in Sunderland.
The Grimsby site was previously occupied by home improvement retailer, Wickes. The large format building occupies a prime site on the Retail Park and already has B8 consent, enablingthe site to operate as self-storage with immediate effect.
The store will deliver a net floor space of 80,000 sqft, trading over three levels. When fully fitted, the Grimsby store will be one of the storage company’s largest stores.
The new storage facility will provide a wide range of storage unit sizes combined with services to support commercial customers, householders and students.
Gareth Dougherty, Acquisitions Manager at Kangaroo Self Storage said; “M Park Alexandrais 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 at Kangaroo Self Storage said, “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.”
The transaction was led by George Kearney at LCP, part of M Core, the owners of M Park Alexandra. Their advisers were Henry Phipps of Edgeley Simpson Howe and Osborne Clarke.
George Kearney, Senior Asset Manager at LCP 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."
Kangaroo Self Storage was advised by MBM Commercial, Temple Bright and JLL.
Kangaroo Self Storage has ten operational facilities in the North West of England and across Scotland. The site in Sunderland is currently under development.
