News release

JLL completes on brace of self storage deals to Mayfair Capital

Mayfair Capital acquires five self storage assets totalling an excess of 200,000 sq ft

November 08, 2021

Alyssa Dwek

UK Communications Manager

Mayfair Capital completes the purchase of a portfolio of assets from The Storage Team, a well-established self storage business based in the North West of England. The deal has seen Mayfair acquire 80,000 sq ft of real estate, intellectual property and company brand and the creation of a joint venture with The Storage Team management to assemble a portfolio of scale.

Mayfair will seek to leverage the strength and reputation of the existing brand to acquire and operate more sites over the next few years.

Subsequently the acquisition of three further trading sites from Holdall self storage has been completed, equating to a total of 122,0000 sq ft. This comes alongside two refurbishment opportunities that will open in 2022 taking the initial portfolio up to eight stores.

The self-storage market is benefiting from shifting demographic and technological trends. Space is in high demand from start-up businesses and online retailers where frictionless access to the market place via social media is fuelling growth. In addition, the changing nature of living patterns with the growth in demand for rental accommodation, coupled with a growing desire amongst older generations to ‘downscale’, has led to an increasing demand for self-storage space amongst different users.

Tom Caines - EMEA Alternative Capital Markets Director at JLL said, “Combining these portfolios presents Mayfair Capital with a fantastic seed platform from which to grow into the sector. With continued high barriers to entry in the south and limited availability of sizeable portfolios across the UK, we have been a big advocate of a northern consolidation play for some time. It’s fantastic to see Mayfair Capital come in an implement that strategy, utilising The Storage Team brand and expanding its presence. It’s been a pleasure transacting with Mayfair on both opportunities and we look forward to seeing the portfolio grow in the coming years.”

James Lass, Head of Special Transactions at MCIM added, “We are delighted to have made our first investment into the self storage sector, which is in line with our thematic approach to investing. This acquisition provides a scalable platform in a supply constrained sector of the market where the underlying growth is linked to structural change rather than short term economic factors. With a pipeline of additional assets in place we look forward to expanding the portfolio in the near future.”

Mayfair Capital was unrepresented. JLL represented The Storage Team and Holdall Self Storage.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit