Shurgard Self Storage SA (“Shurgard”) – Shurgard signs a land purchase agreement in the Dusseldorf region (Germany)
LUXEMBOURG – Shurgard, the largest developer, owner, and operator of self-storage centers in Europe – has signed a land purchase agreement in the Dusseldorf region and is expecting to receive a building permit for a new storage facility in the coming months.
This future c.5,800 sqm self-storage property is set to open in 2024 and will offer c.750 self-storage units to the Dusseldorf area.
Shurgard continues to grow its development pipeline in Germany – including the North-Rhine-Westphalia region (NRW) as outlined in its Investor Day in 2021.
Shurgard has currently five projects in the pipeline for that market (excluding targeted bolt-on acquisitions):
- Dusseldorf Rath: c.4,500 sqm building set to open by end Q3-2022
- Cologne Merheim: c.5,700 sqm building set to open by end Q3-2022
- One property in Berlin: c.5,000 sqm set to open in 2023
- One property in Stuttgart: c.5,800 sqm set to open in 2024
- And finally, this new facility in Dusseldorf
They represent c.25% of the current Shurgard rentable space in Germany.
After the successful completion of these projects – Shurgard will be offering self-storage in 29 properties in Germany, consolidating its number-two position (in net rentable sqm) in that country: 14 facilities in NRW (Cologne, Dusseldorf…), seven in Berlin, four facilities in Munich / Bavaria, three facilities in Hamburg and one facility in Stuttgart.
About Shurgard:
Shurgard is the largest provider of self-storage in Europe. The company owns and/or operates 257 self-storage centers and approximately 1.3 million net rentable square meters in seven countries: France, the Netherlands, Sweden, the United Kingdom, Germany, Belgium and Denmark.
Shurgard’s European network currently serves 180,000 customers and employs approximately 750 people. Shurgard is listed on Euronext Brussels under the symbol “SHUR”.
