Investor and developer Compound has been given the go-ahead to transform a former oil depot in Tunbridge Wells into a BREEAM Excellent 91,000 sq ft self-storage hub.
Due for completion in Q1 2025, the development is part of Compound’s £200m portfolio, which currently has a 300,000 sq ft development pipeline across Kent, Surrey and Milton Keynes, with a further 200,000 sq ft under offer in London.
The Tunbridge Wells project will deliver a 194% biodiversity net gain and generate 60% of its total energy requirement through on-site renewables.
Compound chief executive Jacob Sandelson said: “This will be the first of many self-storage-led projects delivered by Compound across the South East of England as we push towards our aim of building one of the largest privately held self-storage portfolios in the UK. The platform will prioritise high-quality design and ESG in a form that secures our buildings as community-centric hubs.
“Our goal is to create a partnership with the local community – our customers – to ensure we offer tangible benefits to those who use our services and work locally.”
Compound has also announced its acquisition of a two-acre site in Milton Keynes where it plans a major mixed-use development that will see the transformation of an obsolete office building into 88,000 sq ft of hi-tech co working, meeting room and self-storage space – all available on flexible terms.
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