Shurgard Self Storage SA (“Shurgard”) – Shurgard opens new self-storage property in Sartrouville (Paris region)
LUXEMBOURG – Shurgard, the largest developer, owner, and operator of self-storage facilities in Europe – is pleased to announce the opening of its new self-storage property in Sartrouville, located in the northwest of Paris.
This converted building is offering c. 4,900 net sqm of storage space in approximately 800 dry, clean and secure self-storage units spread over several floors.
The facility is located inside the “deux rives” area, a tight meander of the Seine river, and within a catchment area that is currently without self-storage coverage (Sartrouville, south Argenteuil, Maison-Laffitte…).
Direct cost for this project (excl. absorption cost) amounts to €10.2 million and the expected property yield at maturity is expected to be within our guidance (7-8%).
Several housing and industrial developments lie nearby, with new infrastructure boosting the attraction of the location.
As with other recent openings and acquisitions – this new Paris-region property will benefit from the Company’s innovative brand, marketing, and pricing techniques as well as the most recognized customer service platform in the industry.
Shurgard currently offers self-storage solutions in 64 properties in France, amongst which 44 are located in the Paris region. The latter represents more than 200,000 square meters of rentable area and the new opening will help strengthen Shurgard’s number-one position in the Paris region.
Shurgard has another two properties in its organic development pipeline in that market- with one opening still expected in 2022 and the other one in 2024.
About Shurgard:
Shurgard is the largest provider of self-storage in Europe. The company owns and/or operates 261 self-storage facilities and approximately 1.3 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’s European network currently serves 180,000 customers and employs approximately 750 people. Shurgard is listed on Euronext Brussels under the symbol “SHUR”.
