Shurgard purchases CityStore’s Camden self storage asset

JLL has completed the sale of a CityStore self storage asset in Camden Town to Shurgard on behalf of a private seller. This purchase marks Shurgard’s continued investment into the London self storage market, following on from their recent acquisition of two CitySpace branded central London assets in December 2021, with JLL acting on both transactions.

The asset provides flexible storage solutions, particularly catering for business users within the Camden Market area.

Penny Bell, Associate, from JLL’s EMEA Alternative Capital Markets team, said: “This sale represents the growing flexibility from operators to take a variety of space under varying tenures in order to access land constrained markets. The strong trading fundamentals of the store underpin its value and the purchaser benefits from increased efficiencies through growing their platform.”

Marc Oursin, CEO at Shurgard, said: “We are excited to add a new self-storage property to our Central London’s growing portfolio. JLL’s expertise and long-standing relationship led to successful closure of this transaction. Shurgard is pleased to have worked with them on these recent deals – including the CitySpace acquisition end of last year.”

The two other CityStore branded assets in Aylesbury and Dunstable were sold by JLL to Storage Mart in October 2021. This was 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.