Storage Mart purchases pair of CityStore branded self storage assets

JLL has acted on behalf of a private seller in the competitive sale of two CityStores in Aylesbury and Dunstable to StorageMart. The assets provide flexible storage solutions ranging from 16 sq ft to 250 sq ft for both personal and business use.

This transaction marks Storage Mart’s second acquisition since its purchase of Big Box Self Storage in 2016 – the largest ever investment transaction in the UK self storage sector at the time.

Penny Bell, Associate - Alternative Capital Markets, EMEA, JLL said, “Whilst the transactional market has been dominated by private equity and institutional investors over the last 18 months, this sale demonstrates the operator appetite for well-run stores to add to their existing portfolio. The barriers to sourcing land and development mean that M&A remains a major consideration for market participants. This is a fantastic result for both parties."

There are now over 5,170 self storage facilities across Europe, compared to 1,711 facilities a decade ago – providing nearly 11 million square metres of self storage space, according to the recently released FEDESSA European self-storage annual survey 2021, produced jointly with JLL.