Real estate investment manager Heitman has expanded its self-storage facilities portfolio in the West Midlands. The move follows the acquisition of the 10-facility Space Station platform in late 2020.
Heitman has bought a 61,000 sq ft self-storage facility in Hall Green, expanded an existing facility in Castle Bromwich through the purchase of an additional 42,000 sq ft of space and funded a new 62,000 sq ft development in Stirchley.
All newly added sites are expected to be developed to high-quality storage specifications and operated under the Space Station banner.
Kevin Prince, chief executive of Space Station, said: “These latest acquisitions fit perfectly into our expansion strategy but represent just a small portion of our pipeline. We intend to continue growing the platform through development of land, conversion of existing, suitable warehouses and adding trade acquisitions where we believe it to be appropriate.”
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