£3m support gives FLEXiSPACE room to grow in Middleton

A self-storage and workspace company, based in Manchester, has secured a £3m loan facility from Barclays to develop a new site in Middleton.

FLEXiSPACE Self-Storage and Workspace supports startup businesses and existing businesses that need to rent space or offices, as well as a range of general storage for business and residential customers.

FLEXiSPACE acquired and developed the site on Ashton Old Road near Manchester city centre in 2013, which now provides 80,000 sq ft of storage space including 400 storage rooms and 30 offices.

The new site in Middleton is located on Old Hall Street next door to the Middleton Arena providing 100,000 sq ft of storage space and serving the north-east of the city.

Paul Fahey, partner at FLEXiSPACE, commented: “We have developed a strong relationship with Barclays as we need a banking partner for the long-term, supportive of our business aims and ambitions.

“They share our enthusiasm, understand our business and have demonstrated an appetite to support our future growth plans as we expand across the region.

“Following our success on Ashton Old Road, we wanted to build on the value and demand Manchester provides. When the opportunity arose to acquire and develop the new site in Middleton, it was too good to miss.

“It fits our strategic plan and is an area clearly under served by the profile of service we provide. We want to continue acquiring and developing sites and to make FLEXiSPACE the leading Self-Storage and Workspace brand in the region.”

Stuart Stocks, relationship director for Barclays Corporate, added: “FLEXiSPACE is a fascinating company to work with and I have enjoyed building a strong partnership with the management team over the last few months.

“A strong management team coupled with the energy and passion of all the staff has quickly established the brand in a short space of time.

“By capitalising on the growth of online start-up businesses and the rising cost of city centre business rates, FLEXiSPACE is well positioned and we look forward to seeing the business grow over the months and years ahead.”