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Self-storage firm secures £100m funding for expansion

Self-storage firm Hold Storage has gained a £100m funding commitment from City & Provincial Properties to support its London portfolio expansion.

The news comes as Hold Storage opens its first site in King’s Cross, N1, measuring 56,000 sq ft. It has spent £3.2m on extending and refurbishing the facility.

The site, located on York Way, includes lockers and 350 sq ft spaces. The firm said “cutting-edge” technology planned for the site will also be rolled out across future locations.

This will include augmented reality overlays of unit sizes to real-world settings, app-controlled unit access, electronic locks, facial recognition and enhanced security measures.

It is the first of five sites that the company plans to open across the capital before the end of 2025.

Hold Storage is planning to operate more than 20 stores by 2030. It is aiming to secure additional funding, initially £100m, to support its long-term plans.

The company aims to be the first in the industry to achieve BREEAM Outstanding sustainability ratings, with 90% of existing materials at some sites being recycled through demolition and construction.

Hold Storage chief executive Frederic de Ryckman de Betz said: “For far too long self-storage has been a story of impersonal warehouses run for the benefit of shareholders with little regard for the potential impact on the planet, the product and the service itself on the people who actually use it. That changes from today with the opening of our first site.

Co-founder and property director Callum Kempe said: “King’s Cross is the ideal location for our first central London site and it will set the standard for how we intend to shake up the industry. We aim to be the largest independent provider of self-storage in London within the next five years and we will be shortly announcing further acquisitions.”

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