Self-storage firm snaps up Heathrow store in £6.5m acquisition

A self-storage company has announced plans for a new store following its acquisition of a warehousing firm.

Safestore has confirmed it will take over a 34,000 sq ft store as part of its acquisition of Salus Services in a £6.5m deal.

Situated on the Parkway Trading Estate near Heathrow Airport, the store is currently branded and operated by Ready Steady Store, and will be rebranded by Safestore imminently.

The news comes as Safestore announces a joint venture with private equity specialist Carlyle to take over Dutch firm M3 Self Storage, an operator of six storage locations in the Netherlands, as part of its European expansion.

Frederic Vecchioli, Safestore’s chief executive officer, commented: “The group has developed a multi-country highly scalable platform with a leading marketing and operational expertise in self-storage.

“The acquisition of M3 represents an excellent platform for entry into the attractive Dutch self storage market and we expect that our JV [joint venture] with Carlyle will enable us to target additional selected development and acquisition opportunities.

I am also delighted with the acquisition of our new Heathrow store which consolidates our position as the leading self-storage operator inside London’s M25.“