A London-based private equity real estate investor has acquired and rebranded Greenspace Self Storage as part of its ongoing redevelopment of York North Business Park.
Located close to the outer ring road and Clifton Moor in York, Greenspace Self Storage is a 28,500 sq ft facility that serves home and business storage users with a comprehensive range of self-storage units, from 20 to 255 sq ft.
The rebrand by new owner Paloma Capital will reposition the business in line with its overall transformation plans for York North, formerly known as Green Park Business Centre.
Since acquiring the site in 2022, Paloma has already undertaken much investment to significantly upgrade accommodation and deliver new purpose-designed trade units.
A £1.25 million refurbishment programme has recently been completed on a stand-alone 12,508 sq ft industrial unit with office space and a secured yard with parking that is now ready to let.
Paloma also recently secured planning consent for four new industrial/warehouse units totalling 34,400 sq ft.
The scheme is now offering design and build opportunities for units ranging from 4,000 sq ft up to 15,400 sq ft.
Jeremy Thiagarajah, Director for Asset Management and Investment at Paloma Capital, said: “We are delighted to relaunch Greenspace Self Storage in line with our overall investment at York North.
“The facility is hugely popular amongst the local community.
“York North is situated in an exceptional location with great connectivity, and we are committed to maximising the value of the estate through repurposing existing buildings as well as adding new accommodation.”
Located on Goose Lane in Sutton-on-the-Forest, York North is strategically located just ten minutes from the York Outer Ring Road and close to Clifton Moor.
York North is also 8.6miles from the city centre.
The long-established, multi-let site benefits from strong regional connectivity, close to the A59, leading directly to J47 of the A1(M) and the wider motorway network.
The letting agents are Carter Towler and JLL Leeds offices.
Paloma Capital is a private equity real estate company established in 2015 and wholly owned by its founding partners Joe Froud and Jack Pitman.
Paloma has raised approximately £640 million of wholly discretionary capital from investors in Europe, the Middle East and North America, which is used to pursue targeted, niche UK investment strategies, frequently focused on smaller assets.
Paloma added it focuses on multi-let assets, which provide the opportunity to create additional value through carefully thought-out and well-executed business plans.
