Shurgard – the largest developer, owner and operator of self-storage facilities in Europe – is pleased to announce the opening of a new self-storage building located in Chiswick (Inner West London).
The opening of this new freehold self-storage facility took place on December 18, 2023. This brand-new c. 6,500 sqm building offers approximately 1,140 dry, clean and secure self-storage units spread over several floors.
Situated in the densely populated and affluent catchment of Chiswick, this property enjoys excellent accessibility via the nearby A406 North Circular Road and M4 motorway. With its prominent visibility and generous parking facilities, it presents an ideal opportunity and choice for businesses and individuals in the area.
As with other properties in Europe – this brand new, multistorey facility will also benefit from our leading e-Rental solution, enabling online rentals and contactless transactions. Direct project cost (excl. absorption cost) is estimated to amount to GBP 21.2 million and the expected property yield at maturity is expected to be close to 8%.
Shurgard currently offers self-storage solutions in 43 properties in the London region, totaling more than 215,000 net rentable square meters. The Company recently opened one other facility in East London (Chadwell Heath) and is on track to achieve its goal of welcoming 100 customers within the first two months of operation.
Shurgard currently has another five properties in its organic development pipeline for the UK (London):
- Tottenham | North London (c. 8,200 net sqm) set to open before year-end 2023
- One property | South-West London (c. 7,400 net sqm) set to open in 2025
- One property | South-East London (c. 6,400 net sqm) set to open in 2025
- One property | South-West London (c. 6,600 net sqm) set to open in 2025
- One property | Central-West London (c. 7,400 net sqm) set to open in 2025
These projects will add a total of 36,000 sqm of net self-storage space – or c. 17% of the existing Shurgard footprint in the London market. After the successful completion of these projects – Shurgard will be offering self-storage in 48 properties in the London area (totaling more than 250,000 net sqm).
About Shurgard
Shurgard is the largest provider of self storage in Europe. The company owns and/or operates 276 self- storage facilities and approximately 1.4 million net rentable square meters in seven countries: France, the Netherlands, the United Kingdom, Sweden, Germany, Belgium and Denmark.
Shurgard is a GRESB 5-star and Sector Leader, has a ‘AA’ ESG rating from MSCI, Sustainalytics Low risk, EPRA sBPR Gold medal. Shurgard is part of the BEL ESG index.
Shurgard’s European network currently serves more than 190,000 customers and employs approximately 750 people. Shurgard is listed on Euronext Brussels under the symbol “SHUR”.
For more information:
www.shurgard.com/corporate
www.shurgard.com/en-gb
www.shurgard.com/en-gb/blog
www.facebook.com/shurgardselfstorage
Contact:
Caroline Thirifay, Director of Investor Relations, Shurgard Self Storage Ltd
Email: investor.relations@shurgard.co.uk
M: +44 75 96 87 57 13
Isabel Neumann, Chief Investment Officer, Shurgard Self Storage Ltd
Email: isabel.neumann@shurgard.eu
M: +32 2 229 56 69
Nathalie Verbeeck, Citigate Dewe Rogerson
Email: nathalie.verbeeck@citigatedewerogerson.co
M: +32 477 45 75 41
